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UK strikes trade deal with New Zealand – but it may add nothing to GDP
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theguardian.comBritain has struck a trade deal with New Zealand, a key ally, as ministers hope to stem the country’s reliance on China – but the agreement is expected to add no value to the UK’s gross domestic product.
Despite the Department for International Trade heralding the deal as a “groundbreaking” achievement that was a “vital part” of Boris Johnson’s commitment to levelling up, the prime minister has been accused of selling out British farmers.
Tariffs as high as 10% are set to be removed on a range of UK goods, including clothes, buses, ships and bulldozers. The price of New Zealand-produced sauvignon blanc, manuka honey and kiwifruit should dip after 16 months of talks.
Trade between the UK and New Zealand is now worth £2.3bn a year, and the
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