How the EU, Indian and US trade deals will benefit Wales
Last week I visited Aston Martin, an iconic brand and one of the very top manufacturers based here in Wales. They employ hundreds of highly-skilled workers at their base in St Athan in the Vale of Glamorgan and while I was there I spoke to apprentices Jack, Charlie and James.
All three of them told me that they wanted the opportunity to learn and earn in their local community. I was inspired by the optimism they both had in their futures and in the automotive industry as the sector to provide them with secure and long-term careers.
And it was Welsh workers like them who I thought of when our landmark trade deals with the US, EU and India were each announced.
The first-of-its-kind agreement made with the US will protect British businesses and save thousands of well-paid, skilled jobs and protect working families. As a single country, the US is the largest export destination for Welsh goods with £2.2bn in exports there last year, so the deal is especially good news for our economy.
There will be important reductions for the automotive industry with US tariffs being cut from 27.5% to 10% for 100,000 vehicles every year – around the current number of cars exported to the US.
This is a game-changer for luxury manufacturers like Aston Martin. With over 80% of Aston Martin’s production destined for export, the tariff cut will maintain access to the US market and enhances competitiveness. Tariffs on........
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