Greater Manchester to benefit from recent trade deals
Trade deals with India, US and the EU that have seen tariffs on key industries slashed are set to help drive growth in Greater Manchester.
- Prime Minister to meet with the Mayor of Greater Manchester Andy Burnham to discuss the benefits of the 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.
- The deals benefit the automotive sector that supports 15,000 jobs.
Trade deals with India, US and the EU that have seen tariffs on key industries slashed are set to help drive growth in Greater Manchester.
Reductions in tariffs on automobile exports have provided security for 15,000 workers.
Opens up the region to greater investment to grow the economy, raise living standards and put more money into working people’s pockets – priorities of our Plan for Change.
Prime Minister Keir Starmer said:
The trade deals that we have closed delivers stability for the automotive sector in the region that employs 15,000 workers.
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 Greater Manchester.
32,962 people employed in agriculture across the North West will also benefit from our trade deal with the EU. It will reduce checks and red tape, meaning produce grown and farmed in the region has easy access to the UK’s biggest trading partner.
British steel exports are also protected from new rules and restrictive tariffs from the EU, supporting 4,300 people working in the steel industry across the North West.
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 businesses in Manchester, these deals will mean stability and jobs protected as they seize new opportunities to sell to some of our biggest trading partners.
India is a significant marker for the Northwest where over 900 business exported goods worth £412 million last year.
Home to iconic car companies such as Jaguar Land Rover and Bentley, this sector will benefit from measures that reduce automative tariffs from over 100% to 10% under a quota.
This is in addition to the region welcoming investment from businesses in India with IndiGo, India’s biggest airline carrier choosing Manchester as its first ever European destination.
Manchester Airport Managing Director Chris Woodroofe said:
At Manchester Airport, our mission is to connect the North with the world, helping people visit new places, connecting businesses with key global markets, and welcoming tourists and investors to our region.
That is why I am proud that IndiGo – India’s biggest carrier – has chosen Manchester, alongside Amsterdam, as its first ever European destinations.
We know connectivity is a key enabler of trade and productivity. By providing direct access to the world’s fastest-growing major economy, this route will deliver a significant boost to the government’s economic growth mission and coincides perfectly with new of a new UK-India trade deal.
In the same week as the agreement with India, we negotiated the first of its kind deal with the US to reduce tariffs on car exports. Both of these arrangements secure greater certainty for the sector, the 15,000 workers and their families, while also enhancing opportunities for manufacturing in the region to grow.
Manchester will also benefit from access to India’s growing telecommunications market and the commitment in our US deal to increase digital trade and access for the world leading industries in the city.
Just this week, the Prime Minister confirmed a new agreement with the European Union that will deliver on his core mission to grow the economy, create more jobs in South Yorkshire, raising living standards and put 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.