Against the backdrop of the global crisis and the pandemic, the two countries are trying to minimize the losses of their economies by reviving mutual trade.
The heads of the US and UK delegations said that the negotiations on bilateral free trade between the two countries, which started on Tuesday in the format of a videoconference, should be held in an accelerated mode.
“We will carry out the negotiations in an accelerated mode and will allocate the resources needed to make rapid progress. A free trade agreement will contribute to the long-term health of our economies, which is vital as we recover from the problems associated with COVID-19”, – said a joint statement by U.S. Trade Representative Robert Lightheiser and British Foreign Secretary Elizabeth Trass.
In the UK, many conservatives from the government of Boris Johnson believe that a potential free trade agreement with the U.S. is one of the greatest benefits of UK’s exit from the EU. In turn, the U.S. Chamber of Commerce recommended that the UK conclude a trade agreement with the European Union as soon as possible to promote U.S.-British business and investment ties.