Minister claims US-UK trade deal will protect up to 150,000 jobs – UK politics live

Treasury chief secretary insists deal will be ‘really good for Britain’ and dismisses claims the UK is no better off

The governor of the Bank of England has said he hopes the UK can “rebuild” trade relationships with the EU after striking a trade deal with the US.

Andrew Bailey said it would be “beneficial” to reverse the post-Brexit reduction in UK-EU trade, reports the PA news agency.

It is important we do everything we can to ensure that whatever decisions are taken on the Brexit front do not damage the long-term trade position. So I hope that we can use this to start to rebuild that relationship.

It demonstrates that trade deals are important. Trade deals can be done, and the trade is important … honestly, it seems an unpromising landscape at times.

I hope that we can use these deals to rebuild the world trading system.