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Business Daily

How trade deals are really made

Business Daily

BBC

News, Business

4.4796 Ratings

🗓️ 6 July 2025

⏱️ 18 minutes

🧾️ Download transcript

Summary

Grab your briefcase, we’re heading into the negotiation room, to find out about the art of the trade deal.

With deals being drawn up around the world, and many more negotiations underway, we speak to experts and negotiators about overcoming stalemates and bargaining chips.

And we ask if US President Donald Trump has upended the way global trade deals are made.

Presenter: Megan Lawton Producer: Sam Gruet

(Picture: US President Donald Trump holds a signed US-UK trade deal next to British Prime Minister Keir Starmer as they speak to reporters during the Group of Seven (G7) Summit at the Pomeroy Kananaskis Mountain Lodge in Kananaskis, Alberta, Canada on June 16, 2025. Credit: Getty Images)

Transcript

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0:00.0

Hello and welcome to Business Daily from the BBC World Service with me, Megan Lawton.

0:06.2

Today,

0:06.6

US and Chinese officials are meeting right now for trade talks. The government has walked away from trade talks with Canada tonight.

0:13.9

Grab your briefcase, we're heading into the negotiation room to find out about the art of the trade deal.

0:20.2

Oh, they take years. That's why they call it a negotiation.

0:23.6

With a flurry of recent trade agreements announced around the world and plenty more discussions ongoing,

0:29.1

we'll find out how stalemates are overcome and how the opinions of voters are making things harder.

0:34.5

As the public has become more informed about a lot of these issues, they have said, you know, I don't want to have a special trade agreement with a particular

0:40.9

country. Plus, we'll ask whether U.S. President Donald Trump has upended the way global trade deals

0:46.3

are made. A few moments, I will sign a historic executive order. President Trump takes trade

0:52.0

deals to a whole other level.

0:56.8

That's all coming up on today's Business Daily.

1:02.9

Sykia Stama has said that Britain is back on the world stage as he unveiled a new deal with the EU.

1:08.4

After two days of trade talks in London, President Trump says the U.S. and China have reached the framework of a deal.

1:15.3

If you've listened to the news lately, you might well have heard a headline about a new trade deal or ongoing trade negotiation.

1:20.3

Behind those headlines, many, many hours in negotiation rooms.

1:22.9

Rooms most people will never have entered.

1:24.9

So what goes on inside?

1:27.3

And how has that changed over time?

1:37.2

We're starting back in 1860, when what's been called the first major international free trade agreement between two countries was signed between the United Kingdom and France.

1:40.4

The Cobden-Chevalier Treaty was a landmark agreement that reduced tariffs and promoted

1:46.0

free trade between the two nations. It was also seen as a blueprint for other European countries

...

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