Business
19:32, 26-Jul-2017
Britain seeks mutual benefits with EU and the US
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Britain's International Trade Secretary Liam Fox has been visiting Washington to lay the groundwork for a bilateral trade agreement with the United States. Such a deal would only be possible after Britain exits the European Union.
Last year, former US President Barack Obama told Britons that they would be forced to the back of the line in any future trade deal if they voted to exit the European Union.
Fast forward to January of this year, the new British Prime Minister Theresa May became the first foreign leader to visit the new Trump White House and was told the UK could skip to the front of the line.
This week, President Trump tweeted: "Working on major Trade Deal with the United Kingdom. Could be very big and exciting. JOBS! The EU is very protectionist with the US. STOP!"
The UK, however, is hoping to navigate through all the fractious politics and arrive at a mutually beneficial low tariff trade deal with the European Union.
Britain's Trade Secretary Liam Fox has been in Washington this week to establish a new US-UK Trade and Investment Working Group to maintain joint trade worth over $200 billion a year and investments of $1 trillion.
Mr. Fox said, "The first discussions will focus on providing commercial continuity as the UK leaves the EU. But our ambitions are much wider."