Reeves Push for Global Trade: Long-term Benefits

Britains Chancellor, Rachel Reeves, advocates for global trade at the Fortune Global Forum, emphasizing the importance of international markets for a country like Britain. She highlights ongoing trade deal negotiations with the EU, US, India, and Gulf countries. However, experts warn that the benefits of these deals may take years to materialize, and the OBR struggles to fully account for their impact due to ongoing negotiations. The recently completed free trade agreement with India is projected to boost UK GDP by four point eight billion pounds annually, but its full effects could take ten to fifteen years. Despite these deals being seen as worthwhile, their immediate impact on the UKs economic growth and productivity forecasts is expected to be small and delayed.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.