United Kingdom–United States free trade agreement

The United Kingdom–United States Free Trade Agreement (UKUSFTA) is a proposed free trade agreement between the United Kingdom and the United States.[1][2] It was under negotiation as of 2020.

UK-US FTA
United Kingdom–United States Free Trade Agreement
  United States (US)
  United Kingdom (UK)
TypeFree trade agreement
ContextTrade and investment between the United Kingdom and the United States
Signednot signed
Negotiators
Parties
LanguageEnglish

The UK became able to independently negotiate trade agreements when it left the European Union on 31 January 2020 (with a transition period until the end of 2020).

History

The United Kingdom and the United States began negotiations on 5 May 2020, and have had four rounds of negotiations as of September 2020.[3][4]

In December 2020, the two countries signed an agreement on various goods continuing trading terms from previous United States-European Union agreements.[5]

In 2022, with the administration of President Joe Biden uninterested in further negotiations, the United Kingdom began negotiating economic agreements with individual states.[6] (Regulation of international trade is a federal responsibility under the Commerce Clause of the U.S. Constitution, preventing state agreements from changing customs rules.)

Following President Joe Biden and UK Prime Minister Rishi Sunak's meeting held in Northern Ireland on the 12th April 2023, talks of a US-UK trade agreement are now postponed until at the very least 2025.

Draft legal and treaty text

On 28 February 2019, the United States released its negotiating objectives.[7] The United Kingdom released its objectives on 1 March.[8]

Areas covered in the FTA and contention points
  • Trade in Goods
  • Sanitary and Phytosanitary Measures (SPS):* Customs and Trade Facilitation* Rules of Origin
  • Technical Barriers to Trade (TBT)
  • Good Regulatory Practices
  • Transparency, Publication, and Administrative Measures
  • Trade in Services, Including Telecommunications and Financial Services
  • Digital Trade in Goods and Services and Cross-Border Data Flows
  • Investment
  • Intellectual Property
  • Procedural Fairness for Pharmaceuticals and Medical Devices
  • State-Owned and Controlled Enterprises (SOEs)
  • State Subsidies
  • Competition Policy
  • Labour (human activity)
  • Environment
  • Anti-corruption
  • Trade Remedies
  • Settlement
  • General Provisions
  • Currency

[9]

Documents

United Kingdom

United States

See also

References
  1. "UK and US start trade negotiations". May 5, 2020.
  2. Pickard, Jim (May 3, 2020). "UK-US trade talks to begin on Tuesday".
  3. (1) Lawder (2) Shalal, (1) David (2) Andrea (May 5, 2020). "U.S., UK launch trade talks, pledge quick deal as virus ravages global economy". Reuters. Archived from the original on May 5, 2020.
  4. (1) James Warrington (September 22, 2020). "Liz Truss hails 'productive' fourth round of UK-US trade talks". City A.M. Archived from the original on May 5, 2020.
  5. U.S.-UK Trade Agreement Negotiations
  6. Britain Eyes Trade Agreements With California, Utah
  7. "UK publishes negotiating objectives for post-Brexit US trade deal". ITV News. March 2, 2020.
  8. "U.S. Trade Representative Releases Summary of U.S.-UK Trade Agreement Negotiations". Thompson Hine. March 1, 2019.
  9. Powney, Mark (May 20, 2020). "UK-US Free Trade Agreement Negotiations Progress". Business News Wales.
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