As the UK and US prepare for trade negotiations, building on the objectives published by both sides, it is imperative that business priorities are at the heart of both governments' work. The UK and US share the largest bilateral investment relationship on earth, and the economic relationship creates over 1 million jobs in each other’s countries. That is a very strong footing for a new trade deal that improves market access for companies on both sides and lays the foundations for the industries of the future.
Based on conversations with hundreds of firms of all sizes, across every sector, the CBI’s new report – A roaring trade – covers opportunities in services, driving innovation, supporting small businesses to export more, and how the UK government can engage at state level. The report’s concrete and practical recommendations respect the political elements around the negotiations and pose an optimistic vision for the Free Trade Agreement (FTA). There is a unique opportunity to drive job creation and a rise in living standards across the UK if the right deal is achieved.
The report sets out four key areas underpinned by 26 recommendations that businesses have highlighted as their priorities for the UK-US FTA:
- How a trade deal can boost prosperity
- Go beyond a trade deal to build bridges at the state and local level
- Work with business to build support for a deal
- Navigate the political realities.