UK-EU trade deal to inject £9 billion into British economy by 2040
Posted on May 20, 2025 |
The UK Prime Minister announced a new agreement with the EU aimed at boosting the British economy.
The deal will ease trade restrictions on food and drink, support defense cooperation, and expand e-gate access for UK travelers in Europe.
In exchange, the EU will retain fishing rights in British waters until 2038—an extension from the original 2026 deadline.
A separate trade deal with India will help UK companies export products like whisky and cars more easily.
The US trade deal has significantly cut tariffs on UK car, steel, and aluminum exports.
Despite Brexit reducing trade with the EU and long-term UK productivity, this deal could help businesses recover and resume exports.
The UK government estimates the full package of measures will add nearly £9 billion to the economy by 2040.
