U.S., U.K. TALKS OFF TO A GOOD START: Officials from the U.S. and United Kingdom made progress on a number of areas over the past two weeks of negotiations and are moving forward at an “accelerated pace,” Liz Truss, U.K.’s international trade secretary, said Monday after the first round of talks.
Progress was made as both sides “identified a mutually high ambition for services, investment and digital trade, among other areas,” Truss said. The U.S. and U.K. will also have a standalone chapter on small and medium-size enterprises.
What’s next: Truss said negotiators will keep talking over the coming weeks as they pursue a “comprehensive” trade deal, but the next formal round of virtual trade talks will begin on June 15 and last two weeks.
Don’t forget Brexit: Truss didn’t mention a specific target date to conclude talks, but both sides had previously expressed a desire to wrap up talks by the end of the year. That’s when the Brexit transition period is set to end, which would clear the way for the U.K. to enact trade deals with countries around the world.
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