General Terms for the UK-US Economic Prosperity Deal

Professor Emily Lydgate provides oral evidence to the International Agreements Committee of the House of Lords on UK-US trade, in particular the general terms published in relation to the economic prosperity deal (EPD). From a UK perspective, the EPD helps protect jobs in particular sectors like automotive (e.g. Jaguar Land Rover) and reinforces constructive UK-US relations. However, it offers limited certainty. It is not a binding trade agreement, but rather a response to political pressure and evolving US demands, especially from the Trump administration. This uncertainty takes away the businesses ability to plan. Additionally, the sectoral focus is very narrow, offering limited tariff relief beyond a few targeted industries, while broader issues such as the continued 10% reciprocal tariffs remains unresolved leaving us in a worse place than we were before this all started.

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