Penny Mordaunt discusses post-Brexit UK-US trade deal
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The UK looks set to secure a number of deals with individual states in a huge boost to the already thriving trade relationship with America. Britain already does more than £200billion in trade with the US each year with ministers eager to turbocharge trade as part of the Government’s Global Britain strategy, boosting post-Brexit Britain on the world stage.
Ms Mordaunt will kickstart the push to deepen links across the Atlantic by signing a deal with Indiana, which Express.co.uk understands is set to be sealed in the next two weeks.
“These agreements will cut bureaucracy, reduce costs and increase the flow of business,” the minister said while writing for this website.
“These plans are bespoke to each state and some also reach upwards to city level.
“Ninety-three percent of the growth in the US comes from its Metro areas.
“Some will focus on specific sectors and geographies in the UK.
“We now have a pipeline of agreements and start signing them next month, with Indiana being the first.”
It is thought a deal with Texas could follow soon after, being signed by October.
Agreeing a free trade deal with the US has been a key part of the UK’s trade strategy after leaving the EU.
But last September Boris Johnson suggested trade talks would likely take place in “incremental steps”, adding that the “Biden administration is not doing free trade deals around the world right now”.
US President Joe Biden has been cool on the idea of a full US-UK free trade agreement, warning that no such deal could be reached if the UK undermined the Good Friday Agreement – something Washington has warned a renegotiation of the Northern Ireland Protocol risks doing.
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Although some limited talks have taken place on the matter since then, Ms Mordaunt insisted there was no need for a deal with the White House to boost trade.
She said: “The most common criticism of this approach is that you can’t form trade agreements with individual American States.
“It must be done at the Federal level.
“This overlooks one fundamental point.
“We have been and continue to have, deep existing trade relationships with the US.
“If that wasn’t the case, how could the UK have ever become the largest single foreign investor into the United States?
“Why do we work so well together? Because we have so much in common.
“Of course, we share the same language, but more important for business, our legal systems are similar having had a common starting point – English Common Law.”
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