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Free Trade Agreement Talks between USA and UK

Free Trade Agreement Talks between USA and UK

United Kingdom’s Prime Minister Theresa May was the first foreign leader to meet with President Donald Trump this year.

They had a meeting on January 27, 2017 and announced plans to work toward a bilateral free trade agreement between USA and UK. Trump expressed his openness to create a new trade deal with the UK, but said he will prioritize American jobs first.  May supports free trade and wants to boost UK’s trade with the USA, but will be unable to move forward with any agreement until it officially leaves the EU, which is a process that hasn’t officially started and is likely to take at least two years.

“It will take detailed work, but we welcome your openness to these discussions and hope we can make progress so that the new global Britain that emerges after Brexit is even better equipped to take its place confidently in the world,” she [Prime Minister Theresa May] said. [Source]

                           Photo Source: Depositphotos.com/claudiodivizia

According to Sandler, Travis and Rosenberg, PA,

May said the two sides are “discussing how we can establish a trade negotiation agreement, take forward immediate high-level talks, [and] lay the groundwork for a U.K.-U.S. trade agreement.” According to press sources, joint negotiating groups will be established to “scope out” what progress can be achieved during the Brexit process so that an agreement can be signed “as soon as possible” once that process is complete.

May said the agreement will also be used to “identify the practical steps we can take now in order to enable companies in both countries to trade and do business with one another more easily.” Such steps could include removing mobile phone roaming charges, the mutual recognition of professional qualifications, and removing non-tariff barriers to U.S. imports of certain UK agriculture and food products.

Sources:

CNN.com

strtrade.com