Commons Sense

House of Commons · Ministers' Questions

SMEs: US Trade Agreement

Tuesday 12 May 2020 · 1 question

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 0 Not answered 0

Key points

  • The Government is working on a dedicated chapter for SMEs in the US trade deal to help UK's 5.9 million small businesses.
  • Some 31,600 UK SMEs already export to the US, and the goal is to cut red tape on customs and tariffs to assist these businesses.
  • The Government has been engaging with organizations to help shape the trade deal and ensure it benefits SMEs.

Topics (select to filter)

Questions & Answers

Q1 Daisy Cooper Lib Dem West Somerset
Business & Trade
Context

Discussion on the potential impact of a US trade agreement on small and medium-sized enterprises in the UK.

Question

What recent assessment has the Government made of the potential effect of a US trade agreement on SMEs? Furthermore, will the Secretary of State commit to having a dedicated chapter for SMEs in every future trade deal and creating a mechanism for SMEs themselves to help shape these deals?

Answer from Elizabeth Truss (The Secretary of State for International Trade)

We are working on a dedicated small and medium-sized enterprise chapter in the US trade deal to help the UK's 5.9 million small businesses. Some 31,600 UK SMEs already export to the US, and we want to help them by cutting red tape on customs and tariffs. We have been engaging with organisations such as the Federation of Small Businesses which supports a US trade deal. We are committed to working with businesses of all sizes through our expert trade advisory groups and I am willing to engage further with Ms Cooper about SME involvement.

Answered
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