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Lord Lamont of Lerwick (Con)

Speaking in the House of Lords on 4 March 2025

Debate

Tariffs: Canada and Mexico

Contribution

My Lords, I thank the Minister for that reply and welcome the fact that, in his talks with the President of the United States, the Prime Minister managed to obtain at least a grudging hint that the UK might be exempt from proposed tariffs. Will she not agree, if there is a fully fledged trade war that affects our trading partners, that it will have an impact on the world economy and on our economy and growth rate, and make it more difficult to do what we want to do on defence spending? Secondly, if, as our newly appointed ambassador to the United States has said, there is a prospect of a UK-US technology deal, is it not extremely important that we take advantage of the extra flexibility that we have outside the EU to have a regulatory regime that is not hostile to the industries of the future but actually sees them as an opportunity for innovation?

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