International Trade Secretary, Dr Liam Fox, today (Sunday 18 June) flies to Washington on his first international trip since the UK General Election.
There he will meet a Congressional delegation on Capitol Hill to explore ways to deepen trade and economic links between the UK and US, with the potential of signing a Free Trade Agreement soon after Brexit.
Trade between the 2 countries is already worth over £150 billion a year, the US is the single biggest source of inward investment into the UK, and together there is around $1 trillion invested in each other’s economies.
As part of the 2-day visit, Dr Fox will meet Ambassador Robert Lighthizer, US Trade Representative, as well as the US Chamber of Commerce, trade policy organisations and business representatives.
The International Trade Secretary will also attend the ‘Select USA Investment Summit’ at the National Convention Center, where he will deliver a speech setting out the principles of free trade.
International Trade Secretary, Dr Liam Fox said:
Our work as an international economic department has never been more critical and I am delighted to be making my first visit back as International Trade Secretary to the US, which is our largest single trading partner, accounting for a fifth of all exports.
We know we have a very big job to do, but we also know there are very big opportunities out there for the UK in terms of making a success out of global Britain and championing free trade which is fundamental to the prosperity of the world economy.
This visit will also help lay the groundwork for a potential future UK-US free trade agreement and the practical steps we can take now in order to enable companies in both countries to trade and do business with one another more easily.
The visit will underline the shared interest in forging a closer trade and economic relationship including making progress on policy coordination, regulatory issues and market access barriers.
Dr Fox previously met Paul Ryan, Speaker of the US House of Representatives, and a US Congressional delegation to discuss trade links, in London in April earlier this year.