Select committee: Business, Innovation, Science and Trade Committee
Conclusion 3
10th Report – US Economic Prosperity Deal
Published 14 Sep 2025
Addressed to Department for Business and Trade
Business, Innovation, Science and Trade Committee UK trade with the US, India and EU All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
We welcome the Government’s work to date in securing swift tariff relief for key sectors under the GT-EPD and acknowledge the progress made in challenging circumstances. However, we must acknowledge that UK exporters are now trading with our most significant single trading partner on terms which are worse than before President Trump came to office. Because ministers have not published an economic impact analysis—or a framework for assessing potential impacts—we cannot yet estimate the economic loss or gains from the GT-EPD. While implementation of some aspects of the agreement has commenced, many of the UK’s critical industries remain in a state of uncertainty about the future tariffs regimes they may face. It is also now clear that the UK has secured less favourable terms for some sectors than our much larger neighbours in the EU. Finally, 52 the future timetable for implementing measures that might be agreed in the GT-EPD is unclear. Together, these risks are increasing uncertainty for business. Uncertainty risks hurting, not helping, the appetite of business and investors to invest. (Conclusion, Paragraph 48)
From: Business, Innovation, Science and Trade Committee, 10th Report – US Economic Prosperity Deal (HC 1306), 14 September 2025
Government response
The government responded to the whole report on 28 November 2025 (deadline 14 November 2025).
Summary written by Accountability Index from the government's response. It is not the government's own words.The government's response sets out its work on the Economic Prosperity Deal (EPD) and states that discussions with the US on the full scope of the deal are continuing, without stating that it accepts or rejects the Committee's recommendations as a whole.
- On parliamentary scrutiny and a Commons debate, the government states that it "will continue to keep the House fully informed" and that any final EPD agreement "will be scrutinised by Parliament in line with established procedures". It does not set out a timetable or commit to a debate.
- On steel and aluminium, it says the UK "will remain the only country in the world to benefit from a preferential 25% rate" and commits to publishing its steel strategy "by the end of this year".
- On the Trade Remedies Authority, the government is "seeking to introduce legislation as soon as parliamentary time allows", with further details "in due course".
- On forced labour, it says it is "actively examining" existing measures and "considering" approaches including mandatory due diligence and import controls, as part of a review of responsible business conduct.