first steps

U.S., U.K to Explore Trade Agreement

DanIndustry News Release, Trade

trade agreementThe United States and the United Kingdom are set to explore a potential trade deal following a meeting of trade officials. U.S. Trade Representative Robert Lighthizer met with his British counterpart this week to discuss the groundwork for a potential bilateral trade agreement between the U.S. and the U.K., according to Politico. However, any deal with the U.K. cannot be negotiated until Britain completes its exit from the European Union in early to mid-2019. But, working groups from the two can lay the groundwork for a potential agreement before the exit. U.S. Commerce Secretary Wilber Ross has said that the United States has made clear it is prepared to launch talks as soon as the U.K. is ready. In 2014, the U.K. was reported to rely on the EU for 27 percent of its food imports. Just four percent of food items in the U.K. originated from North America, and 54 percent of food consumed in the U.K., originated in the U.K., according to the U.K. Department for Environment, Food and Rural Affairs.

From the National Association of Farm Broadcasting News Service.