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UK forerunner in queue for US trade deals

UK forerunner in queue for US trade deals

US Treasury Secretary Steve Mnuchin has said the UK will be at the head of the queue for negotiating free trade agreements with the US.

Mnuchin, who has a leading role in overseeing the US economy, made the promise at the World Economic Forum in Davos.

Willing

Steve Mnuchin said President Donald Trump was committed to ensuring Britain would be at the front of the line when negotiations began.

Although he suggested that there would inevitably be certain restrictions initially while the full details of Brexit were worked out, the US would be willing to work on producing an attractive trade agreement.

Mnuchin also spoke with Bank of England Governor Mark Carney on Wednesday, and is due to have discussions with Chancellor of the Exchequer Philip Hammond later this week.

US Commerce Secretary Wilbur Ross has also been talking with the UK’s International Trade Secretary, and described their conversation as “encouraging.” It is believed they focused particularly on the idea of adding a commercial officer to British embassy staff to help promote trade, which has been common practice in the US for many years.

Supportive

Mnuchin's positive comments will be welcomed by the UK Government ahead of talks between President Trump and Prime Minister Theresa May. Mnuchin was particularly keen to emphasise the continuing bond between the two nations.

He said: "I think we have had a very special relationship for a long period of time. We are very clearly supportive of the UK over the Brexit issue. We are monitoring discussions with the European Union and we want to see a successful transition.”

 


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