The three trade deals that we have struck in three weeks will boost Liverpool's automotive sector that employs 5,000 people, with tariffs on car exports slashed alongside a range of other measures.
- Prime Minister to meet with the Mayor of the Liverpool City Region Steve Rotheram to discuss the benefits of his recent trade deals.
- Comes as we've nailed three trade deals in as many weeks to deliver growth that is a priority for the Plan for Change.
- Boost for job creators including the region's automobile industry that employs 5,000 people.
The three trade deals that we have struck in three weeks will boost Liverpool's automotive sector that employs 5,000 people, with tariffs on car exports slashed alongside a range of other measures.
Reducing India's tariffs on machinery, slashing tariffs on car exports in both deals and our agreement with the US to remove the 25% tariff on steel provides stability for the biggest employers in the region like Ford and Jaguar Land Rover.
This means greater job security for workers, stronger economic growth to supporting more jobs and higher living standards across Merseyside - priorities that we are delivering through our Plan for Change.
The Prime Minister Keir Starmer said:
The trade deals that we have closed delivers stability for the automobile industry in Liverpool that employs 5,000 people.
It also will create opportunities for more seamless trade, attracting inward investment that will grow the local economy and make a difference to people's lives.
These changes will be felt everywhere, whether it's lower food prices at the checkout, more choice for consumers and higher living standards that will improve livelihoods across Merseyside.
The Prime Minister will tell the English Mayors and the Leaders from the Devolved Governments at a meeting of the Council of Nations and Regions in London today (Friday 23 May) that his trade deals with India, the United States and the EU will deliver economic growth that will improve people's lives at home.
He will challenge those in attendance to drive economic growth in their local areas to deliver for working people.
Business and Trade Secretary Jonathan Reynolds said:
The three landmark deals secured this month with the US, India, and the EU have shown this government is serious about striking the deals that our businesses want and need.
We are delivering billions for the UK economy and wages every year as part of our Plan for Change. For Merseyside businesses, these deals will mean stability and jobs protected as they seize new opportunities to sell to some of our biggest trading partners.
Our increased trade with India will unlock opportunities for every region in the UK to access the world's fastest growing economy, including Merseyside. The area is renowned for its music industry, which will benefit from copyright protections enshrined in the deal and a commitment that works will continue to be protected for at least 60 years.
Under the Free Trade Deal that was concluded, tariffs on cars sold to India will come down from over 100% to 10% under a quota.
In another win for the region, tariff reduction agreed with India on advanced manufacturing will benefit Liverpool's port that is close to more than 50% of UK manufacturers and has the capability to service 95% of the world's largest container ships.
UK Music Chief Executive Tom Kiehl said:
The Government's recent trade deals are welcome progress towards boosting further growth of the UK music industry which already contributes £7.6 billion annually to the economy.
Commitments made in the UK-EU agreement to support cultural exchange for touring artists are an important first step.
In the same week, we negotiated a first of its kind agreement with the US that will reduce tariffs on car exports to 10% for the first 100,000 vehicles per year, almost the total number of UK vehicles exported to the country last year.
Just this week, the Prime Minister acted in the national interest by confirming a new agreement with the European Union that will deliver on his core mission to grow the economy, creating more jobs in Merseyside, raising living standards and putting more money in people's pockets.
At today's meeting of the Council of Nations and Regions the Prime Minister will also lead discussions about spreading AI to help working people access the services that they need in their local areas.
