The shadow business secretary says the UK-US trade agreement is "not historic", adding it leaves "the vast majority of the economy exposed to 10% tariffs". Andrew Griffith adds the government, "shouldn't really be sort of high fiving themselves for merely leaving tariffs that are higher level than they were two months ago". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00Any reduction in tariffs is welcome.
00:02They're a restraint on trade.
00:04The UK economy needs all the help it can get at the moment.
00:07But in our view, it really doesn't go very far.
00:11There's a lot more work to do.
00:13Of course, it's good news for automakers.
00:15We make fantastic cars, anything that can help exports to the United States.
00:19There's huge parts of the economy that aren't covered.
00:22This is not the comprehensive trade agreement that we were promised.
00:25It's not historic. It's not great.
00:26It's good in some sectors, but it leaves the vast majority of the economy exposed to 10% tariffs.
00:33It doesn't even talk about financial services, one of our biggest exports.
00:36There's nothing about mutual recognition, really not much clarity for pharmaceuticals,
00:41nothing in there about film and TV industry.
00:44So it's what isn't in this deal.
00:46It's a Diet Coke deal. It's not full fat.
00:49It hasn't got all the right products in it.
00:51The best that could be said is that it's a start and that the government can carry on now
00:56and seek to negotiate the deal that we were doing, the comprehensive free trade agreement.
01:02That's what needs to be done.
01:04They shouldn't really be sort of high-fiving themselves for merely leaving tariffs
01:08that are higher level than they were two months ago.