The UK and U.S. Complete Third Round of FTA Negotiations
The UK and U.S. completed the third formal round of discussions on the UK-U.S. Free Trade Agreement (FTA). The negotiations took place (virtually) between 27 July and 7 August and included approximately 33 sessions, covering around 21 different work streams. There was much progress made in a number of areas including Intellectual Property and Rules of Origin. It is expected meetings will continue between the formal rounds.
A UK government statement, published by the UK Department for International Trade, notes positive progress continues to be made in many areas with most chapter areas now moving into the advanced stages of talks, with particularly detailed, text-based discussions taking place.
In parallel to the negotiations, British Secretary of State for International Trade, Liz Truss visited Washington, D.C. and held a series of key meetings with the United States Trade Representative, Ambassador Robert Lighthizer, and other key members of the U.S. Administration, and Members of Congress.
In these meetings Ms. Truss and Ambassador Lighthizer reviewed the progress of the negotiations, and agreed to continue at the current pace through the Fall, with the fourth round expected to take place in early September. Further talks will be held between the third and fourth negotiating rounds and the two sides are expected to exchange their first Market Access offers in this time-period.
The International Trade Secretary reasserted the UK’s priorities in an FTA, and both sides reaffirmed their commitment to negotiating a comprehensive and ambitious agreement.
Due to considerations relating to Covid-19, the UK and U.S. have taken a joint decision to postpone the SME Dialogue planned to take place in Boston later this year, and hope to rearrange this in Spring 2021.
You can find the full statement here on the Gov.UK site.
British-American Business Connections welcomes the U.S. and UK Governments' commitment to forge a new trans-Atlantic trade partnership. This is a challenging time in our shared history and BABC will be there to support initiatives and policies that enable our members to develop business opportunities in and between the UK and the U.S.