House of Lords International Agreements Committee inquiry on General Terms for the UK-US Economic Prosperity Deal

In response to this inquiry by the House of Lords International Agreements Committee on "General Terms for the UK-US Economic Prosperity Deal", our evidence reviews the impact of this deal including its implications to the UK’s future trade relationships, compatibility with WTO rules and how Parliament can assess the value and scrutinise future agreements of this nature. Our key points include: While the UK seeks short-term gains through flexible, non-binding agreements like the EPD, such deals risk undermining the global rules-based trading system. This approach could lead to increased economic conflict and supply chain disruptions, particularly as preferential arrangements (e.g., for US ethanol) affect other partners. The UK, as a smaller economy, would be better served by upholding multilateral principles, including legal enforceability and non-discrimination. Aligning too closely with the US—especially on supply chain security and China-related trade controls—could damage relations with other key partners, including the EU.

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