In June US and UK trade delegates are set to hold two virtual negotiating meetings to discuss in greater detail a potential trade deal.
This next round of advanced talks comes after an initial round of meetings was held in May as the two countries attempt to flesh out a free trade deal that will lower the cost of imports and exports and forge a new trade relationship.
International trade secretary Liz Truss said June’s negotiation will see both sides introduce detailed proposals as they try to strike a “comprehensive trade deal…at an accelerated pace”.
So far both sides have covered broad areas and principles on issues, such as small and medium enterprises (SMEs), financial services and the legal barriers to trade.
During this first round, the British team emphasised to their US peers that there would be no compromise on food standards and that the NHS would be off the table in all talks.
Despite this, Liz Truss said: “A number of areas showed particular progress, including where both teams identified positive alignment between respective negotiating positions.
“They identified a mutually high ambition for services, investment and digital trade, among other areas.
“Both sides also set out a mutual commitment to creating new opportunities for businesses on both sides of the Atlantic and to delivering benefits for workers, consumers and farmers.”
Before any deal can go ahead, the US delegates must get approval from all of the different branches of the US Government, including the US Senate, who are believed to want specific points met.
These trade talks are taking place alongside the Brexit negotiations and the Government is hopeful that the two can be achieved at the same time to ensure that the UK has deals with its largest trading partners.
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