THE ‘DONE deal’ between the USA and UK is hugely positive news for the region, according to a leading Coventry and Warwickshire business figure.
The deal will see tariffs on car exports from the UK to the USA drop from 27.5 per cent to 10 per cent and a commitment to remove tariffs from aerospace parts completely, which currently stand at 10 per cent.
Corin Crane, the chief executive of the Coventry and Warwickshire Chamber of Commerce, said it would be welcomed by key industries to the region’s economy.
He also encouraged more firms across the region to grow their overseas markets to bolster growth.
Corin continued: “The economy of our region has evolved over the years, but the car industry is still very important to us and is fundamental to our success, so it is hugely positive news for the president and prime minister to announce they’ve reached a deal in this area.
“I know it has taken a lot of hard work behind the scenes to reach this agreement with the US, which looks to be bearing fruit. The supply chain in our area will be thrilled with this news after months of uncertainty.
“It’s not only the car industry, we’ve got a strong base of aerospace businesses in Coventry, Warwickshire and the wider Midlands too, and this deal benefits them too.
“The government has also made progress with India and the EU, which is a real sign that global trade is vitally important to our future growth.”
Corin added; “I would urge businesses across the region to get in touch with the team at the chamber to find out how they can be supported with exporting. It might be something that’s brand new to them or they may be looking to expand their markets overseas, we’ve got a great team that can help them.
“Doing business internationally is proven to increase a businesses’ chances of growth, make it more efficient and more resilient.”
Visit www.cw-chamber.co.uk/international-trade/exporting-starts-here/ for international trade support.
