The UK is today (Monday 2 March) publishing its
negotiating objectives for a free trade agreement with the United
States, with talks expected to begin this
month.
Manufacturers of ceramics, cars and food and drink, and
professional services including architects and lawyers are
among the British industries expected to be the biggest
winners from tariff free access to the US market.
The agreement will deliver for the whole United Kingdom, with
Scotland, the North East and the Midlands forecast to benefit
most from removing barriers to trade with the US.
Government analysis published today shows that the UK economy
will benefit from a £3.4 billion boost, as the trade deal will
increase transatlantic trade flows by £15.3 billion.
The negotiating objectives set out that any future
agreement must protect our NHS and uphold our high standards on
food safety and animal welfare.
The agreement will also include a chapter on digital trade, to
maximise opportunities for businesses to trade digitally across
the Atlantic.
On the UK side, talks will be overseen by Crawford Falconer,
DIT’s Chief Trade Negotiation Adviser, formerly New Zealand’s
Chief Negotiator and Ambassador to the WTO.
He will be supported by a team of negotiators, drawing on
expertise from across government and the private
sector.
Negotiating rounds will alternate between the UK and
US.
The government will set out our negotiating objectives
for Australia, Japan and New Zealand shortly, with the aim of
having 80 percent of total UK external trade covered by free
trade agreements by 2022.
The Prime Minister, said:
“We have the best negotiators in the business and of course,
we’re going to drive a hard bargain to boost British
industry.
“Trading Scottish smoked salmon for Stetson hats, we will deliver
lower prices and more choice for our shoppers.
“Most importantly, this transatlantic trade deal will reflect the
unique closeness of our two great nations.”
International Trade Secretary, said:
“Striking ambitious free trade agreements with our partners
around the world is one of the key opportunities of Britain
becoming an independent trading nation once again.
“This deal with our biggest single trading partner will cut red
tape for our small businesses, cut tariffs for our great products
from dairy to cars and increase growth in all four
nations.”
Mike Cherry, National Chair of the Federation of Small
Businesses, said:
“FSB research shows that the United States is the number one
individual country that UK small businesses are looking to as
they consider where to trade, with 46% of UK SME exporters
prioritising the US market over the next three
years.
“This shows the sheer scale of ambition that will be unleashed,
if we can take full advantage of the opportunities a Free Trade
Agreement will open up.
“As the FTA moves forward, we are working with the Department for
International Trade to make sure SMEs are front of mind.
The success of the UK economy rests on inspiring more small
businesses to go global, and trade around the world.”
The UK’s overall negotiating objectives are
to:
- Agree an ambitious and comprehensive free trade agreement
with the United States that strengthens the economic relationship
with our largest bilateral trading partner, promoting increased
goods and services trade and greater cross-border
investment.
- Increase UK GDP by opening up opportunities for British
businesses and investors, and facilitating greater
choice and lower prices for British producers and
consumers.
- Rigorously protect the UK’s freedom to provide public
services, such as the National Health Service, in the national
interest. The NHS is not for sale and the Government is committed
to the guiding principles of the NHS – that it is universal and
free at the point of use.
- Throughout the terms of the agreement, ensure high standards
and protections for British consumers and workers, and build on
our existing international obligations. This will include
upholding the UK’s high domestic standards on food safety and
animal welfare.
- Futureproof the agreement in anticipation of rapid
technological developments.
