David Lammy takes questions at Trade Unlocked business conference

The transcript covers discussions on the UK's trade relations with the US and EU, focusing on the Labour Party's approach to these issues. It highlights the challenges and opportunities in post-Brexit EU relations, the UK's role in the CPTPP, and the importance of youth mobility and security partnerships. The role of the Business Council in shaping trade policy and economic growth is also discussed.

Why is a free trade agreement with the US unlikely for the UK?

• The UK lacks negotiation resources.

• The US is focusing on protectionism.

• The UK is not interested in a trade deal.

• The US prefers agreements with the EU.

What is the UK's stance on a New Zealand-style veterinary agreement with the EU?

• The UK is not interested in such agreements.

• The UK has already secured the agreement.

• The UK believes it can achieve a similar deal.

• The UK wants to lower standards.

What is the UK's main trading block according to the transcript?

• Asia Pacific

• United States

• European Union

• Commonwealth Nations

What economic issue is highlighted as a major concern for the UK?

• Trade surplus with the EU

• High unemployment rates

• Decreasing foreign investments

• Rising inflation and cost of living

What is the significance of the UK's membership in the CPTPP?

• It replaces the EU as the main trading partner.

• It positions the UK as a major power in the block.

• It limits the UK's trade options.

• It focuses solely on trade with China.

What is a key benefit of expanding the Youth Mobility scheme to EU nations?

• Increased immigration to the UK

• Enhanced cultural and educational exchanges

• More job opportunities in the UK

• Higher taxes for young people

What is a proposed change in the UK's approach to EU relations?

• Ignoring EU regulations

• Establishing a structured dialogue

• Ending all trade agreements

• Focusing only on defense partnerships

Why is it important for the UK to be 'in the room' during global discussions?

• To avoid international criticism

• To dominate the EU

• To ensure its interests are represented

• To lead all negotiations

What role does independent advice play in the UK's trade strategy?

• It is unnecessary and ignored.

• It replaces government decisions.

• It helps in making informed decisions.

• It is only for political purposes.

What is the UK's goal regarding economic growth according to the transcript?

• To have the lowest growth in the G7

• To maintain current growth levels

• To achieve the highest growth in the G7

• To focus only on domestic growth