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UK Steps Up Efforts for a Trade Deal With US

08/08/2019 9:19am

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By WSJ City 

British Prime Minister Boris Johnson's government launched a charm offensive in Washington this week in a bid to secure a trade deal with the US quickly after the UK leaves the European Union.

KEY FACT

--- British law makers met with members of the Trump administration to lay the groundwork for a deal.

--- British Foreign Secretary Dominic Raab met with President Trump on Wednesday.

--- After his meeting, Raab said the UK government is aims to complete a bilateral agreement with the US.

--- Trade Secretary Liz Truss met with US Trade Representative Robert Lighthizer earlier in the week.

--- British officials hope more contentious aspects, such as position of the NHS could be settled and fleshed out at a later date.

--- The UK is also seeking trade deals with other countries, including Canada, which Raab visited on Tuesday.

Why This Matters

The fate of such a deal is largely in US hands. A quick deal could limit the US's ability to use a trade deal to pry open access to other parts of the UK market, including government procurement, access to Britain's National Health Service and relaxing British agricultural standards.

The UK has already held six meetings with US officials to lay the foundations of a trade a deal. However, under EU rules, the UK isn't allowed to sign one until it has formally left the bloc. The British government is considering ignoring this restriction, say people familiar with the matter, a strategy that would risk harming relations with the bloc.

A fuller story is available on WSJ.com

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(END) Dow Jones Newswires

August 08, 2019 04:04 ET (08:04 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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