close
close

Apre-salomemanzo

Breaking: Beyond Headlines!

Trade deals between Britain and eight US states, worth .3 trillion, prove that Anglo-US trade is thriving post-Brexit.
aecifo

Trade deals between Britain and eight US states, worth $7.3 trillion, prove that Anglo-US trade is thriving post-Brexit.

Britain signed its eighth trade deal with a US state earlier this year, adding Texas’ gigantic economy to an already impressive list of states with which Britain is opening trade.

Analysis by GB News and Facts4EU revealed that the economies of Indiana, North Carolina, South Carolina, Oklahoma, Utah, Washington, Florida and now Texas have a market value of 7.3 trillion dollars, more than the 23 largest EU economies combined.


Facts4EU

The combined economies of the eight US states with which Britain has trade deals are larger than those of the EU’s 23 largest economies.

Facts4EU

Sir John Redwood, a former Conservative secretary of state, said: “It’s great to see the UK using its Brexit freedoms and securing trade deals with eight US states with more to come.

“The US is our largest trading partner and we have a much better balance between exports and imports than with the EU. Who said none of this would be possible once we leave the EU? »

Critics have pointed outThe work lack of commitment to Anglo-American trade, as evidenced by in the recent Report from the House of Commons Library on British trade beforecities.

The independent report states: “The Labor government has stated that…its priorities will be negotiations with the Gulf Cooperation Council (GCC: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), India, Israel, South Korea, Switzerland and Turkey…

“Negotiations with all these countries began under the previous Conservative government.

“The new government’s plans for free trade agreement negotiations did not mention the United States… Canada… or Mexico.

“The government has said that trade policy goes beyond FTAs. It will publish a business strategy that aligns with its industrial strategy and promotes the UK’s economic security and its net zero emissions targets.”

The UK’s largest buyer of goods and services – the United States – has failed to do so. ensure a mention by Sir Keir Starmer’s new Labor government.

It was Kemi Badenoch who signed the Texas-Great Britain compact while serving as Secretary of Business and Commerce.

Speaking at the time, Texas State Governor Greg Abbott said: “Texas is America’s economic powerhouse, where entrepreneurs from around the world can articulate a vision and know they can achieve it.

“By working with our UK partners, we will chart a greater path to success and opportunity and create an even stronger economic partnership. »

LATEST MEMBERSHIPS:

Brexit supporters cite Texas as an example of a country where Britain should focus its diplomatic efforts, not on the “Brexit reset” with the EU as Starmer has promised.

Encouragingly, discussions are also underway between the Department of Commerce and Commerce and many other US states, including California, Colorado and Illinois.

What is currently unclear is whether the new government is pursuing these goals or not.

It comes after it was revealed last week that America had bought £186 billion worth of goods and services from Britain in 2023 alone, three times more than Germany – the largest economy in the EU – which came second with £63bn.

The United States’ largest physical import from Britain was medical and pharmaceutical products (£8.2 billion), followed by cars (£7.5 billion), mechanical generators (£7.5 billion). £5.3 billion), scientific instruments (£2.5 billion) and aircraft (£2.3 billion).

These figures were dwarfed by American imports of goods and services from Britain.

“Other business services” accounted for £58.0 billion of trade, “Financial services” £29.1 billion, “Insurance and pension services” £11.5 billion and “Telecommunications, computing and information services” £8.8 billion.