To ask the Secretary of State for International Trade, what recent assessment she has made of the potential effect of a UK-US free trade agreement on living standards for households across the UK.

A UK-US Free Trade Agreement (FTA) could have a significant positive impact on living standards for households across the UK due to potential wage rises combined with lower prices for goods imported from the US. The Department for International Trade (DIT) analysis published in 2020 shows that an ambitious FTA with the US could deliver a £15.3 billion increase in bilateral trade and a £3.4 billion lift to the UK economy. DIT’s analysis also suggests productivity gains from a UK-US FTA could contribute to wage increases of up to £1.8 billion for UK workers in the long run.

Further detail can be found in the report on https://www.gov.uk/government/publications/the-uks-approach-to-trade-negotiations-with-the-us