UK, USA Begin Negotiations on Bilateral Free Trade on Tuesday
The United Kingdom and the United States will begin negotiations on a free bilateral trade agreement on Tuesday after the United Kingdom’s final exit from the EU, a spokesman for the Prime Minister’s office told reporters on Monday.
It is expected that the negotiations will take place in video mode and will last two weeks.
« Both sides expressed a desire to achieve progress (in the negotiations) as soon as possible, so we expect constructive two-week negotiations, » said the representative of the office. He added that Britain intends to conclude an « ambitious free trade agreement » with the United States.
Earlier this year, after the UK officially left the EU, the British authorities announced that they were planning to reach a trade agreement with the United States with « mutually beneficial reduced tariffs, » providing access for British and American companies to each other’s markets. During the negotiations, Britain will clearly pursue its interests and will be « ready to move away » if the conditions of the future deal do not meet national interests.
The United States is the UK’s second largest trading partner after the EU. The parties intended to conclude a trade transaction before the end of the current year.
The UK left the European Union on February 1, completing a process that lasted three and a half years. After Brexit, a transitional period begins, during which London will have to agree with the EU and other countries on new formats for cooperation in all areas.