Both allies, struggling with the pandemic, are aiming to shore up domestic supply chains. FMTNews Brexit
An area ripe for tariff reduction is in the automotive trade, Britain’s largest export sector to the US.
US Trade Representative Robert Lighthizer has said little publicly about the UK trade talks since publishing a sweeping set of objectives more than a year ago that sought full access for US agriculture products and reduced tariffs for US manufactured goods. Prime Minister Boris Johnson has vowed to drive a “hard bargain” and UK International Trade Secretary Liz Truss has said that Britain would not diminish its food safety standards.
Trade in goods between the US and United Kingdom was valued at US$127.1 billion in 2018, with the two sides roughly in balance, while the services trade topped US$134.8 billion.
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