London – On 18 July 2018, at a speech given at the Royal Society, London, the Secretary of State for International Trade and President of the Board of Trade, the Rt Hon Dr Liam Fox announced that the UK government will be starting formal consultations on a potential free trade agreement with the United States of America (USA). In response, BritishAmerican Business CEO Duncan Edwards made the following statement:
“Today’s speech certainly marks a historic moment in UK-US trade relations as it reflects the ambition of the UK government to strengthen economic ties with the US, the UK’s most important single-country trading partner."
“We welcome the announcement that the US will be one of three priority markets for which the UK Government is launching formal consultations, and we hope that this positive momentum continues in the coming months towards opening a new chapter in economic relations between both countries."
"As this consultation comes in the context of the UK leaving the EU, we also welcome the Secretary’s comment that the UK government is working to maximise the UK’s trade with the rest of the world without impeding its current trade relationship with Europe which is so important for many of our businesses and workers on both sides of the Atlantic.”