Free Trade Could Boost U.S. and U.K. Economies Post Pandemic



Victoria Harker|Chamber Business News

The United States and the United Kingdom have opened up negotiations over a free trade deal that both sides agree could help their economies recover from the coronavirus pandemic. 

Business leaders and advocacy groups are urging speed in cementing the pact. Strong investment ties and tariff-free trade greatly benefit both economies. 

“U.S. firms have invested more than $750 billion in the U.K., and the American business community has a significant interest in ensuring the future stability and growth opportunities of the UK economy,” the U.S. Chamber of Commerce said in a document outlining recommendations for the negotiations. 

Marjorie Chorlins, executive director of the chamber’s U.S.-U.K. Business Council said deepening trade and investment ties will allow both economies to demonstrate their leadership together and build on their shared strengths in services, the digital economy, advanced manufacturing, life sciences, the creative arts, and other sectors. 

Council members are working with negotiators from both sides to secure a “gold standard trade agreement that benefits workers, farmers, and citizens,” Chorlins said.  

Among the goals of the trade agreement are to cooperate on global issues, strengthen trade and investment, and provide commercial continuity for businesses, workers, and consumers as the U.K. leaves the European Union (EU), according to the Office of the U.S. Trade Representative.

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