Trade Agreements

Department for International Trade written question – answered on 16th July 2020.

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Photo of Gareth Thomas Gareth Thomas Shadow Minister (International Trade)

To ask the Secretary of State for International Trade, what assessment she has made of the potential effect on the economy of not concluding a trade agreement between the UK and (a) Canada, (b) Japan and (c) Turkey by 31 December 2020; and if she will make a statement.

Photo of Gareth Thomas Gareth Thomas Shadow Minister (International Trade)

To ask the Secretary of State for International Trade, what progress she has made on agreeing a trade agreement between the UK and (a) Brazil and (b) Mexico; and if she will make a statement.

Photo of Ranil Jayawardena Ranil Jayawardena Parliamentary Under-Secretary (Department for International Trade)

Brazil

The United Kingdom values Brazil as an important trading partner. Brazil is part of the Mercosur trade bloc, alongside Argentina, Uruguay and Paraguay. We will continue to work together to develop our trade relationship and consider options for future agreements.

Mexico, Canada, Japan and Turkey

The United Kingdom’s ambition is to sign continuity trade agreements with Mexico, Canada, Japan and Turkey by the end of the transition period, which would make sure that existing trade flows are protected. If we do not reproduce the effects of an existing EU agreement, trade with these partners would take place on British terms – in line with the “UK Global Tariff” that we have published – after the end of the transition period. The volume of trade that would be impacted by such a change varies between different trading partners and we are working closely with businesses to ensure preparedness for any scenario.

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