KEMI Badenoch stumbled as she tried to justify signing off on UK membership of a large Indo-Pacific trade bloc.
The Government argues the move - the UK's biggest trade agreement since Brexit - will bring British businesses a step closer to selling to a market of 500 million people with fewer barriers, but critics say the impact will be limited.
Government estimates indicate it will add just £1.8 billion annually to the economy after 10 years, the equivalent of 0.08% of Britain’s gross domestic product (GDP).
The business secretary was on Sky News on Sunday to speak about signing the accession protocol for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
But when host Sophy Ridge asked her if it was going to make much difference, as she suggested the Manchester City squad value "is worth £5bn when you put it in context", Badenoch struggled to answer.
Ridge said: "If there's only one country in this bloc we don't already have a free trade deal with, how much impact is it really going to have?
"You're saying it's going to bring in £1.8bn in 10 years' time, I mean the Man City squad value is about £5bn just to put that in context.
"Is it really going to make that much difference?"
Sunday morning gold#Ridge just stumped Kemi Badenoch 🔥 ‘The deals worth £1.8bn after 10 years, The Man City bench is worth £5bn when you put it in context, is it gonna make that much difference?’ Kemi stumbles hard 🤣#Ridge #BBCLauraK #BrexitBrokeBritain pic.twitter.com/cLd1Tk24lu
— kerry ✊💙Save Our NHS (@hewitson10) July 16, 2023
After stumbling, Badenoch said: "Yes it is."
She also told the BBC people will benefit from the new trade deal the UK has signed “if they use it”.
"Countries have been queuing up to join this trading bloc, we got there first," Badenoch said.
Laura Kuenssberg told Badenoch many businesses are finding it harder to trade and there are plans for extra costs for goods coming in from the EU from October.
Asked whether that could be delayed, Badenoch said: "We are not going to do anything that makes things harder for people that is a guarantee".
She said arrangements have not been finalised but she is aware of concerns.
The shadow foreign secretary, David Lammy, said last month the Tories were being “dishonest” by claiming membership of the bloc would make up for lost trade with the rest of Europe.
In 2022, Britain exported £340bn of goods and services to the EU, 42% of total UK exports.
Britain is the first new member to join the CPTPP since its formation in 2018. It is also the first European country to gain entry to the bloc, which comprises Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Analysts have raised doubts about the significance of the deal.
“The impact appears mainly cosmetic, for the UK to show it made a trade deal after Brexit,” Chris Devonshire-Ellis, the chair of the investment advisory firm Dezan Shira & Associates, said.
“No one in Asia is taking the pact very seriously.”
