U.K. Says Benefits of Post-Brexit Trade Deals Underestimated
- International Trade Secretary Truss says reassessing deals
- Previous analysis said U.S. agreement would add 0.16% to GDP
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The U.K. is reviewing the potential benefits of trade agreements with countries such as the U.S. and Japan after Brexit because it believes previous analysis underestimated the possible gains.
Speaking to a House of Lords committee on Thursday, International Trade Secretary Liz Truss said prior economic assessments conducted by the British government -- such as an estimate that a U.S. deal would add at most 0.16% to U.K. GDP -- are likely outdated and inaccurate.