Everybody wins: Post Brexit trade deal with 65 nations will cut import costs and save Brits millions June 19, 2023 Developing nations are set to benefit from reduced tariffs under a new post-Brexit trading scheme launched by the UK. The Developing Countries Trading Scheme (DCTS) scheme will cut import costs for 65 countries, including 37 African nations and 26 states in Asia, Oceania and the Middle East. It will save UK firms and consumers £770m [...]
Brexit cited as a major concern as US business confidence in Britain drops June 12, 2023 US business confidence in the UK has fallen for the third consecutive year, with the fallout from Brexit being cited as one of the main reasons for the collapse in confidence. The Transatlantic Confidence Index, published by BritishAmerican Business (BAB) and Bain & Company, today found that the US average business confidence rating for the UK dropped [...]
British businesses mull ‘onshoring’ supply chains in response to soaring costs June 5, 2023 Snags in international supply chains lingering on from the Covid-19 pandemic are steering mid-sized businesses toward bringing their production lines back to the UK, a new survey out last night showed. Research by consultancy BDO found just under 50 per cent of the 500 firms they surveyed are considering “onshoring” as much of their operations [...]
Kemi Badenoch urged to ‘walk away’ from Gulf trade deal over human rights concerns May 22, 2023 Kemi Badenoch has been urged to “walk away” from “worrying” trade negotiations with Gulf states due to concerns about human and labour rights abuses. The UK has “absolutely no reason” to discuss trade with states where “human, women’s and LGBT rights and workers’ rights abuses are so widespread”, union boss Paul Nowak said. Amnesty International [...]
Kemi Badenoch backs the City as she travels to Bern for UK-Swiss trade deal talks May 15, 2023 Trade secretary Kemi Badenoch has pledged her government “gets the City” as she launches trade deal talks with Switzerland. Speaking exclusively to City A.M., the business and trade secretary said the free trade deal’s (FTA) “potential is limitless” as she hopes to unlock investment in tech, digital and data. The former Tory leadership contender will [...]
Cleverly talks down hopes of US trade deal on Washington trip May 10, 2023 Foreign secretary James Cleverly has talked down hopes of a UK-US trade deal during a visit to Washington DC. Speaking in the US on Tuesday, Cleverly said the government was not “prioritising” a free trade agreement (FTA) but aiming for “real economic coordination” with the superpower. His comments came at a press conference with US [...]
Sunak to meet Oz and NZ leaders as trade deal – which promises cheaper manuka honey and Jacob’s Creek – takes effect May 5, 2023 Rishi Sunak is set to welcome the leaders of Australia and New Zealand to No10 ahead of the UK’s landmark post-Brexit trade deals coming into force. The prime minister will meet Australian PM Anthony Albanese and Chris Hipkins, prime minister of New Zealand, in Downing Street today. It comes as the UK’s trade deals with [...]
Post Brexit UK-US trade deal talks still on ice as Biden visits Northern Ireland April 12, 2023 Talks between the US and the UK on a post-Brexit free trade deal are not expected to resume until 2025, according to reports. Prime minister Rishi Sunak and US president Joe Biden are not said to have discussed the matter during a visit to Northern Ireland to mark the 25th anniversary of the Good Friday [...]
Sunak says ‘fantastic progress’ made in talks to join Indo-Pacific trade bloc March 30, 2023 Rishi Sunak said “fantastic progress” has been made in talks on joining an Indo-Pacific free trade bloc, amid expectations that the UK could be welcomed into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) imminently. The prime minister said it was “a great benefit of Brexit” for the UK to be able to sign [...]
Is the UK about to tick one of its ‘Asia tilt’ boxes by joining CPTPP Indo-Pacific trade bloc this week? March 29, 2023 The UK is set to join the key CPTPP Indo-Pacific trade bloc later this week, according to reports. Negotiations have been ongoing to secure Britain’s entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) since early 2021. And sources have now said the UK’s entry into the pact is “agreed” and “confirmed”, according [...]