Department for International Trade
Liz Truss's meeting with USTR Ambassador Katherine Tai
A readout of International Trade Secretary Liz Truss's meeting in Washington D.C. with United States Trade Representative, Ambassador Katherine Tai.
WASHINGTON – The Secretary of State for International Trade met with USTR Ambassador Katherine Tai in the United States, following their successful June meeting in London.
They began by celebrating the historic deal reached to agree a five-year suspension of tariffs resulting from the Airbus-Boeing dispute, making significant progress on cooperation in the aerospace sector. The dispute has been the longest-running at the World Trade Organisation and the resulting tariffs hit industries such as aerospace, cashmere, machinery, and single malt Scotch whisky.
Acknowledging this progress provides a platform for working together to address other shared challenges, they reaffirmed our countries’ commitment to fair competition in the global economy. They agreed that the UK and US are two high-standard economies aligned in the view that trade should not lead to a race to the bottom. Both are committed to tackling threats to free and fair trade, including combating market-distorting practices such as industrial subsidies and steel overcapacity. This will mean working together to defend workers and companies that play by the rules against unfair trading practices in the global trading system.
Emphasising the already significant £196 billion trading relationship, with more than $1 trillion invested in each other’s economies, they explored opportunities for even closer economic partnership. Trade will be an integral part of the economic recovery from Covid-19. Both recognised that the UK and US have an enhanced interest in reviving our industries, building resilience to withstand future crises, and strengthening our innovation and competitiveness together, as like-minded democratic partners.
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