Britain was seeking to fast-track a crucial post-Brexit trade deal with the United States on Wednesday after new Prime Minister Boris Johnson dispatched his top diplomat and foreign trade minister to Washington. Foreign Secretary Dominic Raab was due to hold talks with his US counterpart Mike Pompeo at the State Department while the International Trade Secretary Liz Truss has lined up meetings with top American trade officials. With Johnson determined to ensure Britain leaves the European Union on October 31, with or without a deal, striking some kind of trade accord with the Trump administration has taken on even greater importance. Trump, who sees a like-minded leader in Johnson, has said that trade between the two countries could multiply once Britain leaves the EU and spoke to the British prime minister about a deal within days of his taking office last month. "Negotiating and signing an exciting new free trade agreement with the US is one of my top priorities," said Truss, who was … [Read more...] about British ministers in US to ‘fast-track’ post-Brexit trade deal
Post brexit trade deals
UK agrees post-Brexit trade deal with South Korea
The UK and South Korea have agreed to sign a free trade deal ahead of Britain’s departure from the European Union. Talks between international trade secretary Liam Fox and South Korean trade minister Yoo Myung-hee concluded in Seoul last night. Read more: Small businesses pessimistic over Brexit The in-principle agreement, which will be officially signed following formal checks, will ensure businesses can continue to trade with South Korea on preferential terms. It marks the first post-Brexit trade deal that the UK has managed to secure in Asia. “This means that whatever happens with Brexit, there will be total continuity in trade between our two countries and the basis for an ambitious future free-trade agreement when we leave the EU,” Fox tweeted. The deal includes keeping zero-tarrifs on South Korean exports such as cars. South Korean exports to the UK amounted to about £5.03bn last year. Read more: Boris Johnson vows to hold back £39m Brexit … [Read more...] about UK agrees post-Brexit trade deal with South Korea
UK and South Korea agree on post-Brexit trade deal
The UK on Monday signed a preliminary free trade agreement with South Korea, securing its first post-Brexit deal in Asia. The agreement, which was signed in principle between Liam Fox, the international trade secretary, and Yoo Myung-hee, his South Korean counterpart, seeks to maintain existing trade arrangements between the two countries, even in the event of a “no deal” Brexit. The deal mirrors preferential terms Britain and South Korea enjoy through the Korea-European Union FTA, and is expected to be fully ratified by the end of October. “This means that whatever happens with #Brexit, there will be total continuity in trade between our two countries AND the basis for an ambitious future... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week … [Read more...] about UK and South Korea agree on post-Brexit trade deal
Trump offers UK ‘phenomenal’ post-Brexit trade deal
US President Donald Trump offered the UK on Tuesday (4 June) the prospect of a “phenomenal” trade deal that would more than double trade flows between the UK, but warned that in such a deal, everything would be up for discussion. Speaking at a joint press conference with outgoing Prime Minister Theresa May on the second day of his state visit to London, Trump praised May’s handling of the Brexit talks and said the two countries shared the “greatest alliance the world has ever known”. Earlier, the two leaders had held talks on future trade, defence and intelligence co-operation. Trump also repeated his call for NATO members, which include the UK, to keep to their long-standing commitment of spending 2% of GDP on defence. However, the prospect of a trade accord with the US is scarcely less controversial for the UK public than the now abandoned deal between the US and the EU. The UK inserted a clause in the EU-Canada trade agreement to clarify that its … [Read more...] about Trump offers UK ‘phenomenal’ post-Brexit trade deal
Trump says UK and US can do a phenomenal post-Brexit trade deal
U.S. President Donald Trump and Britain's Prime Minister Theresa May hold a joint news conference in London, Britain, June 4, 2019. REUTERS/Carlos Barria LONDON (Reuters) - U.S. President Donald Trump said the United States and Britain could agree a “phenomenal” post-Brexit trade deal. “As the UK makes preparations to exit the European Union, the United States is committed to a phenomenal trade deal between the US and the UK,” Trump told a news conference on Tuesday during his state visit to London. He added: “There is tremendous potential in that trade deal - I say probably two and even three times of what we are doing right now.” Reporting by Kylie MacLellan; writing by Michael Holden; editing by Stephen Addison … [Read more...] about Trump says UK and US can do a phenomenal post-Brexit trade deal