The UK Department for International Trade (DIT) has announced it will pursue trade cooperation with individual US states in tandem with its efforts to enhance UK-US trade at a federal level. The UK government has indicated it will seek Memorandums of Understanding (MOUs), mutual recognition of professional qualifications, and regulatory dialogue with states across the US in order to continue strengthening trade and investment between the two countries.
BAB welcomes the government’s ambition to strengthen ties at the state level and has been fortunate to work closely with Minister for Trade Policy Penny Mordaunt in preparation for this initiative. While sub-federal trade cooperation should not be seen as a replacement for a comprehensive UK-US free trade agreement, engaging with US states has the potential to strengthen local economic ties, while also building a coalition of support for future UK-US trade negotiations.
BAB CEO Duncan Edwards responded to the UK Government’s state-led approach to trade cooperation, commending DIT’s efforts to strengthen trade through state-level engagement and reiterating support for a comprehensive free trade agreement. Read the full statement here.