Too Early for Trade Talks with UK, U.S. Says
Following a July 25 meeting with United Kingdom trade minister Liam Fox, U.S. Trade Representative Michael Froman said it would be “premature” to enter formal trade negotiations with the UK, which recently voted to withdraw from the European Union. He added, however, that the U.S. will be prepared to engage in conversations about how to best develop a trade and investment relationship with the UK “at the appropriate time.”
Froman said he and Fox discussed how the UK is working to define its future relationship with the EU and the impact of those discussions on other trade and investment relationships Similarly, the U.S. is evaluating the impact of the Brexit vote on the Transatlantic Trade and Investment Partnership negotiations, which the U.S. is still hoping to complete by the end of 2016. Froman noted that it is not possible to meaningfully advance separate trade and investment negotiations with the UK until some of the basic issues concerning the future UK-EU relationship have been worked out.
More information on the impact of Brexit is available on the ST&R/STTAS Brexit Information Hub.