WASHINGTON (Sputnik) – The United States and the United Kingdom will have a chance to negotiate a modern free trade agreement, British Secretary of State for International Trade Liam Fox said during a speech on Wednesday.
“It is our two nations that have the opportunity now to negotiate a trail blazing, modern, free trade agreement,” Fox said at a Heritage Foundation event in Washington, DC.
US House of Representatives Speaker Paul Ryan said last month after a meeting with Fox that the United States is prepared to sign a new bilateral trade agreement with the United Kingdom as soon as possible after the country’s exit from the European Union is complete.
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On June 23, 2016, the United Kingdom voted in a referendum to leave the European Union, popularly known as Brexit. Last March, British Prime Minister Theresa May officially invoked Article 50 of the Lisbon Treaty, launching the process of the country’s withdrawal from the bloc.
The Brexit negotiations are due to be completed by the end of March 2019.