The UK announced on Tuesday the formal launch of an “ambitious” post-Brexit free trade deal negotiations with the U.S.
UK International Trade Secretary Liz Truss formally opened the talks on Tuesday during a video conference call with U.S. Trade Representative Robert Lighthizer.
In light of the ongoing global pandemic caused by coronavirus, the first round of negotiations will be conducted virtually on Wednesday, Truss and Lighthizer said in a joint statement.
Both parties agree that a free trade agreement would contribute to the long-term health of both the U.S. and UK economies. The agreement is vitally important for the UK and the U.S. to recover from the challenges posed by coronavirus, the statement added.
UK and U.S. negotiators will be engaging in discussions over the next two weeks in nearly 30 different negotiating groups covering all aspects of a comprehensive trade agreement, the statement read.
Further rounds of negotiations will take place every six weeks and will be conducted remotely until it is safe to travel again.
“An opening plenary today will kick off the detailed discussions, followed by multiple virtual meetings from Wednesday 6 May to Friday 15 May. The negotiations build on the work conducted through the UK-U.S. Trade and Investment Working Group, which was established in July 2017, partly to lay the ground work for these negotiations.”
Over 200 negotiators from UK and U.S. government agencies and departments are expected to take part in the negotiations.
The UK negotiating team will be led by Oliver Griffiths, Director for U.S. Negotiations at the Department for International Trade; while the U.S. negotiating team will be led by Daniel Mullaney, Assistant U.S. Trade Representative for Europe and the Middle East.
Supporters of Brexit have argued Britain’s ability to strike its own free trade deals with nations around the world like the U.S. will provide a boost to the economy, Sky News reported.
But opponents have expressed fears that striking a deal with Washington will mean Britain having to accept looser U.S. food and environmental standards and will not make up for losing access to the EU’s customs union and single market, Sky News added.
They also fear it will open up the NHS to American firms, something UK Prime Minister Boris Johnson denied during last year’s general election campaign.
“The U.S. is our largest trading partner and increasing transatlantic trade can help our economies bounce back from the economic challenge posed by Coronavirus.” Truss said in the joint statement.
“We want to strike an ambitious deal that opens up new opportunities for our businesses, brings in more investment and creates better jobs for people across the whole of the country.”
“As the Prime Minister has said, the UK is a champion of free trade and this deal will make it even easier to do business with our friends across the pond.” Tuss concluded.
Meanwhile, Lighthizer said: “Under the leadership of President Trump, the United States will negotiate an ambitious and high-standard trade agreement with the UK that will strengthen our economies, support good-paying jobs and substantially improve opportunities for trade and investment between our two countries.”
“This will be an historic agreement that is consistent with U.S. priorities and the negotiating objectives established by Congress in U.S. law.”
Positive virtual launch of 🇬🇧🇺🇲 trade negotiations with @USTradeRep.
We are committed to securing a great deal for all parts of 🇬🇧.
Our teams will be working over the next two weeks to complete Round 1, when I will update Parliament. pic.twitter.com/6hW49cpWrq
— Liz Truss (@trussliz) May 5, 2020
