14 November 2022 | Macroeconomics | CEOs

Trade minister of U.K. plans a visit to Washington for talks on free trade deal

Kemi Badenoch, trade minister of the United Kingdom, is going to pay a working visit to Washington next Monday for a meeting with politicians and appealing to business sphere. The visit’s main goal is to strengthen the ties with the U.S. after stalled talks over a free trade deal.

The mentioned deal with the U.S. was promoted as one of the most prominent benefits for the country to get after Brexit. However, the expectations of reaching an agreement quickly did not come true with the start of Biden administration freezing all talks on the subject.

As it was stated by Badenoch's representatives, a necessity of creating a robust trading partnership will be emphasized during the meeting. It’s also planned to discuss several important topics, namely protecting long-term energy security and strengthening supply chains.

As there is no agreement reached on a broader trade deal, British officials have put their effort into securing memorandums of understanding with several states.

Over the current year, the mentioned agreements of understanding were signed with Indiana and North Carolina, and at the moment the country is also in talks with such states as Oklahoma, South Carolina, Texas and Washington.

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