Suspension of UK/Canada Trade Talks Unwelcome

26 Jan 2024

Published in: British Chambers of Commerce News

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William Bain, Head of Trade Policy at the British Chambers of Commerce responds.

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Reacting to the suspension of trade talks between the UK and Canada, William Bain, Head of Trade Policy at the British Chambers of Commerce said:

“The suspension of trade talks with Canada is unwelcome news for UK business and the cause of deeper and freer trade. “We had hoped at the beginning of these negotiations to secure a win-win deal for more extensive transatlantic trade in goods and services – in the interests of both sides.

“The continuity deal agreed as a response to Brexit is still in force. If both sides ratify the UK’s accession to CPTPP tariff preferences, then market access for UK goods and services is available from that trading agreement.

“But for our dairy exporters and parts of our manufacturing industry the loss of key trade preferences puts them in a worse position than before 2020. Government must help these sectors through difficult times and open up new markets for our goods and services.

“Trade negotiations are tough. Countries fight hard for their own national interests. A deal in the future boosting trade and growth on both sides of the Atlantic is possible.

We hope today’s announcement is not a permanent barrier to an improved trade deal with Canada.”