Log In

South Yorkshire to benefit from recent trade deals - GOV.UK

Published 7 hours ago4 minute read

Trade deals with India, US and the EU that have seen tariffs on key industries slashed are set to help drive growth in South Yorkshire. 

   Reductions in tariffs on the steel and auto exports have provided security for nearly 5,000 workers, their families and the biggest two employers in the region.  

It also will deliver opportunities for major job creators like Rolls Royce and Mclaren based in Sheffield’s Advanced Manufacturing Innovation District to grow - a priority of our Plan for Change

These trade deals deliver long term security for nearly 5,000 workers, their families and for steel and auto manufacturing in South Yorkshire.  

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 South Yorkshire.

Over 31,000 people employed in agriculture across the region will also benefit from our agreement with the EU, which reduces red tape and burdens on business, meaning regional specialties like crab, Yorkshire Pudding and cheeses will face easy access to the UK’s biggest trading market. 

The agreement also protects British steel exports from new EU rules and restrictive, providing further security for 8,400 jobs in the steel industry across Yorkshire and the Humber. 

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 South Yorkshire, 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.   

The intention to remove tariffs is a very positive step, which when implemented secures both our own production in USA as well as our customers. 

Getting this deal across the line needs to be a priority, because supply chains are currently in a state of flux awaiting the details and the effective date.

Our increased trade with India will unlock opportunities for every region in the UK to access the world’s fastest growing economy, including South Yorkshire.  

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 the same week, we negotiated a first of its kind agreement with the US that reduces 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.  

Both of these deals secure greater certainty for the sector, the 5,000 workers in South Yorkshire and their families, while also enhancing opportunities for manufacturing in the region to grow. 

Just this week, the Prime Minister continued to act in Britain’s national interest by confirming a new agreement that will deliver on his core mission to grow the economy, creating more jobs in South Yorkshire, 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.

Origin:
publisher logo
GOV.UK
Loading...
Loading...
Loading...

You may also like...