00:00So we've been absolutely clear on our red lines that we won't join the customs union,
00:05the single market, or bring back freedom of movement.
00:08But it's absolutely right that we try and fix a terrible deal that we got when we left
00:14the EU through Brexit under the last government.
00:17We have to work to build our trading relationships with the European Union, also build our security
00:23and defence arrangements.
00:25And these discussions and conversations that the Prime Minister is having are really important
00:30to rebuild those relationships and have a grown up relationship with our nearest trading
00:36partners and our really important security and defence allies too.
00:40So I think it's really important that we continue with our very good trading relationship with
00:45the United States.
00:46We have a £300 billion worth of trade with the United States.
00:50We are their largest investor.
00:52They are our largest investor.
00:53We have £1.2 trillion invested in each other's economies.
00:57We have a really important relationship.
00:59They're an important strategic defence ally as well and we'll continue to build that relationship
01:06and work on it whilst also building on these relationships with the European Union.
01:11We need to do both.
01:12I think we're in a period of global insecurity, that's without a doubt.
01:16And that's already the situation that we're facing in terms of Ukraine and other challenges
01:21around the world, which is why the Chancellor has worked so hard to make sure that we get
01:26our national economy on a really stable footing, make some difficult decisions to do so.
01:33But then we can really build from there and really make much stronger our relationships
01:37with the European Union and continue with those developing trade ties and also continue
01:43to invest in the United States and work with the United States as a key ally as well.
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