Bloomberg Talks UK Business Secretary Talks Trade Relationship with EU, US
Jan 22, 2026
Peter Kyle, the UK's Secretary of State for Business and Trade, dives into the current trade landscape. He firmly rules out rejoining the customs union with the EU, focusing instead on short-term growth. Kyle discusses diplomatic maneuvers that eased U.S. tariff threats and highlights the potential in UK-US trade, including beef and pharmaceutical deals. He also defends London's reputation against critics, emphasizing its safety and investment appeal while maintaining strong ties with the U.S. for future economic collaboration.
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Substantial UK‑US Commercial Momentum
- The UK and US have created substantial commercial potential worth about $300 billion from recent deals.
- Britain has already secured concrete wins like immediate US beef quota access and a pharmaceutical agreement to show progress.
Personal Ties Drive The Special Relationship
- Strong personal relationships underpin the current UK‑US 'special relationship' despite political differences.
- Both sides focus on mutual advantages in diplomacy, security and high‑growth tech areas like AI and quantum.
Prioritize Immediate Growth Over Customs Union
- Do not pursue rejoining the EU customs union as a policy objective; focus on immediate growth measures instead.
- Prioritize policies that move the needle in the near term rather than reversing trade arrangements.