UK (Parliament Politics Magazine) – Chancellor Rachel Reeves says the UK’s next major trade deal will be with Gulf nations, following recent agreements with the US, EU, and India.
As reported by The Standard, Rachel Reeves said the UK is nearing a significant trade deal with six Gulf countries, including Qatar and Saudi Arabia.
Rachel Reeves’s views on the UK’s next major trade deal
Rachel Reeves said the government’s upcoming trade agreement aims to enhance post-Brexit trade ties. She suggested that the UK’s economic growth will strengthen following the trade deals with the EU, India, and the US.
She stated,
“Britain is in a better place than any other country in the world in terms of deals with those countries. The first deal and the best deal so far with the US, we’ve got the best deal with the EU for any country outside the EU, and we’ve got the best trade agreement with India.”
Ms Reeves said,
“Not only are these important in their own right, but it also shows that Britain now is the place for investment and business, because we’ve got preferential deals with the biggest economies around the world.”
The chancellor stated,
“We increased the quota for the import of beef from the US, it was all still on the high standards that we pride ourselves in, and in part because standards matter to us, but also because we wanted to secure this agreement with the EU, which is by far the biggest market for UK agriculture and fishing.”
Ms Reeves confirmed Britain is not seeking trade negotiations with China at this time. Her comments came amid reports of a fresh trade deal with Brussels finalized on 19 May.
What did Keir Starmer say about the new UK-EU deal on food and energy prices?
Keir Starmer pledged that the new EU deal will bring cheaper food and energy prices to the UK, calling it a “win-win” after concessions on fishing and youth visas.
The prime minister said,
“Britain is back on the world stage. It gives us unprecedented access to the EU market, the best of any country … all while sticking to the red lines in our manifesto.”
He admitted Brexit’s impact on UK trade for the first time. Labour leader claimed the pact to lift barriers on agrifood products could inject £9bn into Britain’s economy.
After the London summit, Mr Starmer told Labour MPs he would tackle Reform’s political threat head-on. He argued trade deals would protect jobs and increase people’s incomes.
The prime minister stated,
“Reform is our main rival for power. We have a moral responsibility to make sure [Nigel] Farage never wins. We have to be clear that every opportunity he has had in this parliament to back working people he’s voted against. We will take the fight to him. We will fight as Labour.”
Mr Starmer said he hopes UK travellers can use e-gates in EU states as soon as possible, but final approval lies with individual nations.
He stated,
“There’s no inhibition on this, so I want to see it done quickly. For holidaymakers wanting to get out this summer, they will want to know that they can do so easily and without delay and chaos.”
What did Kemi Badenoch say about the new Brexit deal?
Conservatives accused Sir Keir of giving up many hard-won advantages from post-Brexit negotiations.
Kemi Badenoch stated,
“This deal will mean Britain becoming a rule-taker, accepting dynamic alignment, giving up fishing rights and paying new money to the EU.”
According to her, fishermen have suffered the most because of the deal.
UK-EU trade deal
- UK gets access to a big EU defence fund and will pay into it.
- UK travellers can use e-gates at EU airports faster, but no date yet.
- New deal stops UK exporters from paying £800m in carbon taxes.
- The UK and EU will work together on crime and migration, sharing face recognition data.