The UK has published its objectives for US trade deal

UK automotive industry
UK automotive industry

The UK has published its negotiating objectives for a free trade agreement with the US, with talks expected to begin this month.

Automotive manufacturers are among the British industries expected to be the biggest winners from tariff free access to the US market.

The agreement hopes to deliver for the whole of the UK, with Scotland, the North East and the Midlands forecast to benefit most from removing barriers to trade with the US.

Government analysis published today shows that the UK economy will benefit from a £3.4 billion boost, as the trade deal will increase transatlantic trade flows by £15.3 billion.

The agreement will include a chapter on digital trade, to maximise opportunities for businesses to trade digitally across the Atlantic.


UK's negotiating objectives with the US


  1. Agree an ambitious and comprehensive free trade agreement with the United States that strengthens the economic relationship with our largest bilateral trading partner, promoting increased goods and services trade and greater cross-border investment.

  2. Increase UK GDP by opening up opportunities for British businesses and investors, and facilitating greater choice and lower prices for British producers and consumers.

  3. Rigorously protect the UK’s freedom to provide public services, such as the National Health Service, in the national interest. The NHS is not for sale and the Government is committed to the guiding principles of the NHS – that it is universal and free at the point of use.

  4. Throughout the terms of the agreement, ensure high standards and protections for British consumers and workers, and build on our existing international obligations. This will include upholding the UK’s high domestic standards on food safety and animal welfare.

  5. Futureproof the agreement in anticipation of rapid technological developments.


The Government will set out our negotiating objectives for Australia, Japan and New Zealand shortly, with the aim of having 80% of total UK external trade covered by free trade agreements by 2022.

“Striking ambitious free trade agreements with our partners around the world is one of the key opportunities of Britain becoming an independent trading nation once again,” said international trade secretary, Liz Truss. “This deal with our biggest single trading partner will cut red tape for our small businesses, cut tariffs for our great products from dairy to cars and increase growth in all four nations.”

Related: Manufacturer's order book boosted by end of political uncertainty


The CBI has responded to the published negotiating objectives. Carolyn Fairbairn, CBI director-general, said: “The UK is beginning a brand-new chapter in its global future, and a good trade deal with the US is a vital part of that story.

“It’s encouraging to see the Government’s ambitions to make it easier for skilled people to move between the UK and US, support small business exporters and future-proof any agreement around industries of the future.

“The US and UK already share the world’s largest bilateral investment relationship; now is the time to use it as a springboard for new jobs and investment here at home.”

Department for International Trade www.gov.uk/dit

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CBI

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