Rt Hon Dr Liam Fox Announces the US at the Front of Queue for Free Trade Agreement
International Trade Secretary Rt Hon Dr Liam Fox formally announced that the United States is at the front of the queue for a free trade agreement following the UK’s exit from the EU.
In a speech today at the Federation of Small Business, Secretary Fox announced four public consultations ahead of post-Brexit trade negotiations, formally signifying the UK’s intention to seek free trade agreements with the US, Australia and New Zealand, as well as the UK potentially seeking accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The consultations, which will be released to the public shortly, will cover these prospective new trade agreements signalling the UK’s immediate negotiating priorities as soon as it leaves the EU, in line with the terms of the draft Withdrawal Agreement and in light of the government’s White Paper on the future relationship between the UK and EU.
In his speech, Secretary Fox said:
“The United States is the UK’s single largest trading partner and foreign investor, accounting for over £100 billion worth of UK annual exports. As we saw during President Trump’s visit, the UK is very keen to further our already excellent trade and investment relationship, and I look forward to continuing these discussions during my visit to Washington next week.”