The three trade deals that we have struck in three weeks will benefit manufacturing that accounts for around 5% of all employment in the West of England.
- Prime Minister to meet with the Mayor for the West of England Helen Godwin 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.
- Agreement with the EU a huge boost to 64,000 people employed in agriculture across the South West.
The three trade deals that we have struck in three weeks will benefit manufacturing that accounts for around 5% of all employment in the West of England.
Reducing India's tariffs on machinery, reducing the US tariff on cars and removing American tariffs on UK aerospace will support employers with a significant presence in the region like Airbus, Rolls-Royce and GKN Aerospace.
This means job security for workers, jobs creation supported in local communities and higher living standards across the West of England - priorities that we are delivering through Plan for Change.
Prime Minister Keir Starmer said:
The trade deals that we have closed provides certainty for the 5% of all working people who are employed in manufacturing, delivers security for their families and puts more in people's pockets.
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 the West of England.
68,000 people employed in agriculture (a fifth of all agriculture workers in England) across the South West will benefit significantly from our trade deal with the EU, that removes red tape and burdens on business, meaning regional specialties like Cheddar Cheese now have easy access to the UK's biggest trading market.
In another win for local producers, the deal means goods like Gloucestershire sausages that previously could not be exported can now be sold to customers in the EU.
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 businesses in the West of England, these deals will mean stability and jobs protected as they seize new opportunities to sell to some of our biggest trading partners.
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.
John Harrison, Chair of Airbus UK, said:
We welcome this new chapter in the UK-EU relationship. In an uncertain world, closer cooperation gives businesses greater certainty and unlocks new opportunities for investment, innovation and growth.
For Airbus, with our unique industrial footprint across both the UK and EU, this reset provides a vital platform to strengthen partnerships in defence, space and civil aerospace, areas where collaboration is essential to Europe's long-term security and competitiveness.
Our increased trade with India will unlock opportunities for every region in the UK to access the world's fastest growing major economy, including the West of England.
Under the Free Trade Deal that was concluded, the barriers to trading have been dropped, with India agreeing to reduce tariffs on products including advanced machinery, aerospace and medical devices that are made in the West of England.
Based on 2022 trade alone, this amounts to India cutting tariffs worth over £400 million when the deal comes into force, which will more than double to around £900 million after 10 years.
India reduced tariffs on medical devices and machinery exported from the UK, that will deliver significant benefits for firms across Bristol and the wider region.
The deals both support collaboration on green energy tech, aligning with the region's initiatives in renewables and energy innovation. They also bring benefits to the financial, digital and services companies that are based in Bristol which employ local people and generate economic growth across the region.
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 the West of England, raising 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.
