US and UK announce formal start to trade negotiations

FOX BUSINESS

After a delay caused by the coronavirus pandemic, British and American negotiators have opened negotiations on a trade agreement that the U.K. government hopes will bring a post-Brexit economic and diplomatic boost.

U.K. International Trade Secretary Liz Truss and U.S. Trade Representative Robert Lighthizer held a video conference call Tuesday at the start of the two-week round of negotiations.

The two sides, which each have about 100 officials involved in the talks, said in a statement that a trans-Atlantic free trade agreement would “contribute to the long-term health of our economies, which is vitally important as we recover from the challenges posed by COVID-19.”

Britain left the European Union on Jan. 31 after almost half a century of membership and now must forge a new trade relationship with the 27-nation bloc, and with other countries around the world.

Britain and the United States promised to work at “an accelerated pace” to strike a deal.

Total two-way trade between the two countries is already worth about $269 billion a year. The U.S. generally runs a trade surplus with the U.K., generating a nearly $19 billion surplus in 2018.

This entry was posted in Current Events, Economy, Government, News International. Bookmark the permalink.

3 Responses to US and UK announce formal start to trade negotiations

  1. jeans2nd says:

    Gosh, sure wish the Queen is involved at the completion of the US-UK trade agreement.
    All those vids, pics, and the pageantry Stella put up during the last Presidential UK visit were wonderful.
    And no Harry-Meghan drama this time. What fun!

    Liked by 2 people

  2. auscitizenmom says:

    Glad it has started. It should be easier than negotiations with China.

    Like

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