Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of the UK-US Economic Prosperity Deal on (a) manufacturing jobs, (b) consumer prices, (c) business competitiveness and (d) costs to businesses.

In May, the UK concluded a landmark economic deal with the US. The UK was the first country to secure such an agreement that removes tariffs for civil aerospace goods, and we remain the only country to have secured a 10% tariff for automotives within quota – saving hundreds of millions of pounds on UK exports annually. In 2024, the UK aerospace and automotive industries directly accounted for 232,000 jobs.

We are continuing talks on a wider UK-US Economic Deal to address specific tariff and non-tariff barriers, increase digital trade, and unlock new commercial opportunities that benefit both nations.

The Prime Minister, Business Secretary, Ministers and officials across government have been engaging widely with business organisations and companies across the economy. We will continue our extensive engagement throughout the remaining negotiations.