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Chancellor Rachel Reeves has proclaimed that the UK is now in a more advantageous position regarding trade "than any other country in the world" following the clinching of new
trade deals with India, the US, and the EU this month. Reeves remarked that the agreements have "come along like buses," highlighting that the government's forthcoming trade
deal ambitions are centred on the Gulf region, as reported by City AM. "The first deal and the best deal so far with the US, we've got the best deal with the EU for any country
outside the EU, and we've got the best trade agreement with India," stated Reeves. Nonetheless, the government's celebrations over these trade achievements were somewhat
dampened by criticisms suggesting the UK has conceded too much to finalise agreements with these major economies. The most recent agreement, announced at the UK-EU summit on Monday, drew
accusations of "sell[ing] out" or "surrender" from members of the Reform and Conservative parties. Under the terms of the deal, the UK has granted EU fishing fleets
access to British waters for 12 years – a duration that exceeded initial expectations. This arrangement denies UK fishermen the chance to negotiate annually for a greater share of the catch,
a point Business and Trade Secretary Jonathan Reynolds defended by arguing it "removes the uncertainty" associated with "annual haggling process," offering instead
"the consistency of a long one." 'SLASHING RED TAPE' The government has announced that its trade deals have opened up significant markets, resulting in reduced tariffs on
UK exports such as cars and steel, and cutting bureaucracy for UK food exports, which is expected to greatly benefit smaller producers. Starmer has highlighted that these agreements have
"made Britain a place where people want to do business once again." Echoing this sentiment, Reeves told the BBC, "we've got preferential deals with the biggest economies
around the world." However, polling conducted by City AM and Freshwater Strategy suggests that finalising the US trade deal has done little to boost Starmer's standing with voters
– over 60 per cent of respondents said that obtaining concessions from President Donald Trump's tariffs did not alter their view of the Prime Minister. Reeves has signalled that the
government will refrain from entering into negotiations with China, following Labour's dismissal of Chinese concerns that the UK-US deal could harm the Chinese economy. Later on
Tuesday, Reeves is scheduled to participate in a G7 finance ministers meeting, where counterparts from France, Germany, Japan, Italy, and Canada will deliberate on how to handle President
Trump's policies on trade, climate change, and Ukraine. LIKE THIS STORY? WHY NOT SIGN UP TO GET THE LATEST BUSINESS NEWS STRAIGHT TO YOUR INBOX.