UK–US Trade Agreement: Protecting Jobs and Boosting Industry
Let’s start with the long-anticipated UK-US trade agreement. This deal marks a significant step in protecting British businesses and jobs and is expected to save thousands of roles across the country. It slashes tariffs for UK carmakers, and steel producers, and - providing much-needed stability for exporters.
For the automotive industry, UK car export tariffs to the US have been cut from 27.5% to just 10% for a quota of 100,000 vehicles - almost the total number exported in 2024. This is excellent news for manufacturers, particularly Jaguar Land Rover, which stands to save hundreds of millions of pounds annually. Without the Prime Minister’s breakthrough negotiations, many of these jobs could have been lost.
You may recall I previously raised concerns about the precarious situation at British Steel regarding the Scunthorpe plant - the last site in the UK capable of producing virgin steel from raw materials. Government intervention was crucial in preventing its closure and the loss of thousands of skilled jobs.
Thanks to the new deal, the crippling 25% tariffs that had been imposed on UK steel exports to the US have now been removed. The Prime Minister successfully negotiated those tariffs down to zero, a vital term that offers a major boost to our steel industry. The UK Steel Director has rightly described this as a welcome and much-needed relief. The US is our greatest ally, and it is vital that we continue to strengthen our relationship with them through an economic deal that will deliver economic stability.
UK–India Trade Deal: Opening New Markets
In a further boost for UK trade, a second major agreement was signed this week – this time with India. After three years of negotiation, the deal is expected to inject £4.8 billion into the UK economy and generate £2.2 billion in wages annually.
A key highlight of the deal is the dramatic reduction of tariffs. India, which historically imposes high tariffs on imports, is making some of the steepest tariff cuts in its history. Tariffs on whisky and gin will be halved from 150% to 75% and reduced further to 40% by year 10 of the agreement. Similarly, tariffs on cars and parts will drop from over 100% to just 10%.
These reductions will make UK-made goods more competitive and affordable for Indian consumers - an enormous boost for British businesses looking to grow exports.
Together, these trade deals show the government’s commitment to securing Britain’s economic future in a post-Brexit world. Trade agreements typically take years to finalise - delivering two in just a matter of days is a remarkable achievement.
Economic Outlook: Interest Rates and Recovery
There’s more good news for households too. This week, the Bank of England cut interest rates from 4.5% to 4.25% - the lowest level seen in two years. This is the fourth cut since August 2024 and is welcome relief for the hundreds of thousands of people coming to the end of fixed-rate mortgage deals. It’s a clear sign that the government is working hard to correct the mistakes of the past, including the disastrous mini budget imposed by the previous Conservative Prime Minister, Liz Truss.
On a local level, I’ve had the pleasure of meeting several fantastic businesses and organisations around the constituency. I visited BCW, an exceptional manufacturing company based right here in Burnley. BCW is a leader in UK engineering, and it was a pleasure to meet the team and learn more about their work. This is exactly the kind of business that stands to benefit directly from the UK-US trade agreement.
I also visited BAE Systems in Samlesbury to speak with apprentices at the Academy for Skills and Knowledge, many of whom live in Burnley. Over 200 apprentices and graduates are training there in advanced manufacturing, including robotics, clean room composites, 3D printing and enhanced technologies. It was inspiring to see their work and the vital skills being developed - skills that are essential for the North West’s manufacturing future.
Shifting gears from manufacturing to family fun, I also had the joy of visiting Kiddy Kids in Briercliffe, located at the converted Queen Street Mill. It’s a brilliant venue with inflatables, soft play, a football pitch, ‘krazy golf’ (which I quickly proved I’m terrible at!), and even a restaurant and bar for the parents. If you haven’t been, I highly recommend popping in for a fun-filled family day out - and a bite to eat while the kids burn off energy!
Looking ahead, I’m very much looking forward to spending time in the constituency this weekend. On Saturday morning, I’ll be attending Painting Padiham 2025, which is one of my favourite local events. I’m excited to see the wonderful artwork being created. There’ll be plenty of family activities throughout the town too, including pottery painting, craft workshops and face painting - and the forecast looks promising!
Later in the day, I’ll be heading to Padiham Cricket Club’s XI home game against Little Lever CC. Following some deeply disappointing recent incidents at the club, it would mean a lot to see the community rally together to support the team for the season opener.
Finally, for residents of Brierfield, I’ll be holding a constituency surgery at Brierfield Library on Saturday 24th May, from 9:30am to 12:00pm. No appointment is necessary – just drop in if you need support, have concerns, or simply want to say hello.
As always, if you have any concerns or need assistance, please don’t hesitate to get in touch. You can reach me by email at oliver.ryan.mp@parliament.uk or by phone at 01282 216398. My office at 5 Grimshaw Street in Burnley Town Centre is open for walk-ins from Monday to Thursday, 10am to 2pm, and by appointment only on Fridays - say hello.
Speak soon, until next time.
Oliver