Trade deals with India, US and the EU slashing tariffs on key
industries and opening markets are set to help drive growth in
Scotland and put money in Scots' pockets.
These deals represent tangible benefits for communities
throughout Scotland, supporting jobs, reducing costs, expanding
export opportunities for iconic Scottish products and making it
easier to go on holiday.
This means stronger economic growth for firms across Scotland –
delivering on our Plan for Change.
Prime Minister said:
These trade deals deliver long term security for people in
Scotland. They will create opportunities for more seamless trade
and attract inward investment to grow the economy, making 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 Scotland.
The new agreement with the European Union, the UK's largest
trading market, will directly address challenges faced by
Scottish exporters since 2019. The Scottish salmon industry has
estimated that between 2019 and 2023, Scottish Salmon export
values experienced a net loss of around £75 million. Our deal
makes it significantly easier to sell Scottish goods to European
markets. We've also unlocked a new salmon market through our deal
with India, with tariffs dropping from 33% to 0%.
, chief executive of Salmon
Scotland, said:
We welcome the UK Government's efforts in moving at pace to
secure trade deals that will grow and strengthen market
opportunities for our farmers.
Ministers rightly recognise salmon as the jewel in the crown of
our world-class produce and its vital role in the economy of
coastal communities and across the UK.
Securing frictionless access to key markets such as the EU, along
with expanding opportunities in India, is crucial to protect our
producers from unnecessary barriers like tariffs and red tape.
Scottish salmon's high standards of quality and sustainability
set it apart globally, helping to drive investment and support
12,500 jobs across the Highlands and Islands and beyond.
We look forward to continuing to work with government to build on
this momentum, including further progress with the US, and to
ensure Scotland's salmon sector continues to thrive on the world
stage.
The landmark deal with India has slashed tariffs on Scotland's
most iconic products. Scottish distillers will immediately see
these halved from 150% to 75% and eventually to just 40% over the
next decade.
Other industries boosted by the deal include soft drinks and food
that will ramp up Scotland's export economy, supporting jobs and
increasing prosperity across the country.
Secretary of State for Scotland said:
Our trio of trade deals shows we are championing Scottish
products and businesses on the global stage. From our
world-renowned whisky distilleries to our cutting-edge green
energy sector, Scotland has so much to offer international
markets. But more importantly as part of our Plan for Change this
means more money in people's pockets.
By securing better access to the European Union, United States
and India, we're creating real opportunities for Scottish
businesses to grow, supporting jobs in communities from the
Highlands to the Borders.
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 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 Scottish businesses,
these deals will mean stability and jobs protected as they seize
new opportunities to sell to some of our biggest trading
partners.
In the US Tariffs on British steel and aluminium will be removed.
In addition to vital assurances for life science, there are
reductions for the automotive industry with US tariffs cut from
27.5% to 10% for 100,000 vehicles every year and Indian tariffs
dropping from 110% to 10% under a quota.
New reciprocal market access has also been agreed on beef – with
UK farmers given a tariff free quota for 13,000 metric tonnes
without compromising the sector's high standards.
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.
