US, UK Officially Launch Negotiations for 'Ambitious' FTA

The U.S. officially announced the launch of the first round of trade negotiations with the United Kingdom (see 2005040034) on May 5, saying nearly 30 negotiating groups will discuss trade terms over the next two weeks. The first round of virtual talks will be followed by more rounds every six weeks until international travel is safe, the U.K.’s Department for International Trade said. Both sides said they are seeking an “ambitious agreement” and plan to negotiate quickly. “We will undertake negotiations at an accelerated pace,” U.S. Trade Representative Robert Lighthizer said in a statement.

Lighthizer also said the deal “will strengthen our economies, support good-paying jobs and substantially improve opportunities for trade and investment between our two countries.” U.K. Trade Secretary Elizabeth Truss said the U.K. “will drive a hard bargain to secure a deal that benefits individuals and businesses in every region and nation of the UK.” The U.K. said it will publish a summary of the first round of negotiations after they end.