Britain seeking certainty with U.S. as it Brexits - UK's Fox

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Britain seeking certainty with U.S. as it Brexits - UK's Fox

 

Britain's International Trade Secretary Liam Fox speaks during an interview with Reuters at the World Trade Organization (WTO) in Geneva, Switzerland, July 20, 2017. REUTERS/Pierre Albouy

 

WASHINGTON (Reuters) - Britain wants to ensure business relations with the United States are not disrupted and will seek negotiations on an "ambitious" trade agreement with the United States, UK trade secretary, Liam Fox, told Trump administration officials at the launch of discussions on Monday on post-Brexit planning.

 

Fox and his U.S. counterpart, Robert Lighthizer, jointly chaired the first meeting of a U.S.-UK trade and investment working group, which will start work on a bilateral trade agreement between the countries after Brexit.

 

Britain is not free to enter into new trade deals until it has left the EU in 2019. It has indicated, however, that it wants to get legal documents in place to ensure that such things as flights and data flows between the countries are not interrupted.

 

"The immediate priority is to give businesses on both sides of the Atlantic certainty and confidence," Fox told the working group in opening remarks made available to the press. "Early discussions will focus on providing commercial continuity for US and UK businesses as the UK leaves the EU," he added.

 

On Tuesday, as part of Britain's Brexit transition campaign, Fox is due to address U.S. lawmakers on Capitol Hill and launch a report detailing British trade and investment with 435 congressional districts in the United States.

 

Trade between the United States and Britain is about $200 billion annually.

 

"We have begun to look at our continuity agreements to maintain as open and flexible relationship as we can," Fox told the American Enterprise Institute think tank earlier on Monday.

 

"We're looking at bilateral ways, while we're still members of the European Union, to achieve trade liberalization on a number of fronts on science and technology, and we are looking to scope out the future free trade agreement with no preconceptions attached to that," he added.

 

Fox defended Britain's decision to leave the bloc and said those still hoping to change the 2015 British referendum result, which supported Brexit, "are dreaming."

 

U.S. President Donald Trump has said his administration would work hard to get a quick bilateral trade deal done.

 

Trade was a major issue during the Brexit campaign when former U.S. President Barack Obama said Britain would have to go "to the back of the queue" for a deal if it voted to leave the EU.

 

(Reporting by Lesley Wroughton; Editing by Tom Brown, Bernard Orr)

 

-- © Copyright Reuters 2017-07-25

[Jonnapat]

Clueless before Brexit and even more clueless now.

Nobody knows what they're doing, especially those in charge of the negotiations 

[goldenbrwn1]

38 minutes ago, Jonnapat said:

Clueless before Brexit and even more clueless now.

Nobody knows what they're doing, especially those in charge of the negotiations 

And your inside man in the cabinet is? ......from the guardian, independent?..... or some other brexit hating publication journalist?  We will get a deal with the US. And the EU are just as clueless if indeed the UK are...this is unprecedented new territory for all involved.

Edited July 25, 2017 by goldenbrwn1

[the guest]

And what exactly has this little country have that is interesting to the US to negotiate?

[goldenbrwn1]

13 minutes ago, the guest said:

And what exactly has this little country have that is interesting to the US to negotiate?

For 1 the UK is by far the biggest foreign investor in the US....that helps. The UK supports 1 million jobs in the US. We are the biggest importer of US goods in Europe...and we kinda get on really well which also helps. This little old country does ok tbf ?

Edited July 25, 2017 by goldenbrwn1

[Krataiboy]

32 minutes ago, the guest said:

And what exactly has this little country have that is interesting to the US to negotiate?

Since you ask, markets for their transnational giants to exploit via one of those so-called "free trade" deals, such as the egregious TTIP (Transatlantic Trade and Investment Partnership)  which the EU wisely rejected. 

 

If this is sneaked in by the back door during the Brexit negotiations, everybody in Britain will be wishing they had remained part of the EU.

Edited July 25, 2017 by Krataiboy

[volker0253]

Goldenbrwn 1 get your stats right. The U.K. is NEITHER the biggest foreign investor nor is it the biggest exporter/importer of goods to/ from the US. 

[boomerangutang]

1 hour ago, the guest said:

And what exactly has this little country have that is interesting to the US to negotiate?

 

1 hour ago, goldenbrwn1 said:

For 1 the UK is by far the biggest foreign investor in the US....that helps. The UK supports 1 million jobs in the US. We are the biggest importer of US goods in Europe...and we kinda get on really well which also helps. This little old country does ok tbf ?

 How many bottles of Bovril are sold each year to the US?   Maybe 23?  

 

England used to export some pretty good R&R bands to tour the US, but now with internet, people just look at whatever they want on their digital device.    

 

[goldenbrwn1]

33 minutes ago, volker0253 said:

Goldenbrwn 1 get your stats right. The U.K. is NEITHER the biggest foreign investor nor is it the biggest exporter/importer of goods to/ from the US. 

http://www.cbi.org.uk/news/uk-tops-out-as-largest-foreign-investor-in-usa-at-449-billion-cbi/

 

Biggest importer from Europe I said. 

 

http://www.thisismoney.co.uk/money/news/article-3735812/The-UK-biggest-foreign-investor-449bn-year-supports-1-million-jobs-there.html

 

The UK is also the second biggest exporter from Europe to the USA..just behind Germany. 

 

https://www.forbes.com/sites/dinamedland/2014/08/08/the-ties-that-bind-uk-is-the-largest-foreign-investor-in-the-us-by-far/#67325e8223ef

Edited July 25, 2017 by goldenbrwn1

[champers]

Apparently any deal is dependant on the UK repealing a ban on US imported chicken that has been doused in a chlorine solution. Sounds tasty.

[Khun Han]

10 minutes ago, champers said:

Apparently any deal is dependant on the UK repealing a ban on US imported chicken that has been doused in a chlorine solution. Sounds tasty.

 

Who cares? Country of origin has to be stated on the wrapping, and we consumers don't have to buy it.

[champers]

10 minutes ago, Khun Han said:

 

Who cares? Country of origin has to be stated on the wrapping, and we consumers don't have to buy it.

Imported chicken mostly gets processed into pies, casseroles, curries and fried chicken products and will not be labelled as from the US. Same applies to chicken imported into the UK from Thailand, incidentally.

[Khun Han]

28 minutes ago, champers said:

Imported chicken mostly gets processed into pies, casseroles, curries and fried chicken products and will not be labelled as from the US. Same applies to chicken imported into the UK from Thailand, incidentally.

 

If that's true, then I take back what I said.

[dunroaming]

Can't see how trying to negotiate anything with the USA is going to be helpful in four years time.  Fox has conceded that the  transitional period would probably go on until the next election which would be at least four more years.  Add to that the U-turn POTUS and it is all p*ssing in the wind.  I suspect that in the end the trade with the USA will be more or less the same as it is today but Fox has to try to put a positive spin on things.

[Grouse]

7 hours ago, the guest said:

And what exactly has this little country have that is interesting to the US to negotiate?

Land Rover and Marmite

[Slip]

12 minutes ago, Grouse said:

Land Rover and Marmite

Pimms and Haggis.  (ooh controversial)  Isn't Land Rover already US owned?

[Grouse]

2 minutes ago, Slip said:

Pimms and Haggis.  (ooh controversial)  Isn't Land Rover already US owned?

No LR is owned by India's Tata

 

 Pimms No1 - fabulous!

 

Double shot of Pimms, double shot of Gordon's, couple of drops of orange bitters, fill up with champagne!

 

Did I ever tell you the time when........ 

[dunroaming]

23 minutes ago, Grouse said:

Land Rover and Marmite

As I understand it Britain exports more to the USA than it imports so Trump's boys will be trying to address the balance!

[dunroaming]

47 minutes ago, Grouse said:

No LR is owned by India's Tata

 

 Pimms No1 - fabulous!

 

Double shot of Pimms, double shot of Gordon's, couple of drops of orange bitters, fill up with champagne!

 

Did I ever tell you the time when........ 

Don't forget the fruit!

[Kiwiken]

Boris down here in NZ this week also suring up for future trade.