19 May 2025, 15:46

By Naomi Smith

Today’s agreement between the UK and EU on sanitary and phytosanitary (SPS) measures and emissions trading (ETS) cooperation is undoubtedly welcome.

It signals a shift away from years of fractious and pointless divergence towards something more pragmatic, even constructive.

But while this deal may ease tensions and smooth select trade flows, it’s no game-changer for the UK economy. Not yet.

Both the SPS and ETS agreements tackle specific barriers that have complicated trade since Brexit: delays and costs on agri-food products, and the fractured carbon pricing system.

These are technical but important wins. They reduce friction. They lower some costs. They are a step........

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