Badenoch seeks to boost UK-US trade links during trip to Washington DC


emi Badenoch will seek to strengthen trade ties between the UK and the US by stressing the need for allies to work together to protect the global economy against future shocks.

The International Trade Secretary will tell key political figures in Washington DC that the West must promote strong partnerships to “challenge the growing threat from authoritarian states”.

It comes as supply problems caused by the Covid pandemic and the war in Ukraine have triggered a spike in inflation around the world, putting enormous pressure on the cost of living.

Ms Badenoch will use a speech at the Cato Institute think tank to make the case for cooperation between the UK and US on global trade rule-making, calling for a move towards more supply chains “ diversified” and “resilient” and investments in new technologies to support the jobs of tomorrow.

It will also underscore the need to protect the long-term energy security of nations, according to the Department of International Trade (DIT), as the West seeks to wean itself off Russian oil and gas.

A post-Brexit trade deal with the US would be very valuable for the UK given the enormous potential to exploit the market across the Atlantic.

But a deal still seems a long way off, with any negotiations likely to hit a significant hurdle in the form of unresolved tensions over the Northern Ireland Protocol.

US President Joe Biden has previously expressed concern over the controversial treaty, which aims to avoid a hard border on the island of Ireland but has created a series of economic barriers in the Irish Sea.

Ms Badenoch is due to meet US Assistant Treasury Secretary Wally Adeyemo during her trip, as well as members of the House Ways and Means Committee and the Senate Finance Committee.

Elsewhere, she will promote the UK’s business environment at a US Chamber of Commerce roundtable and attend the Washington Post Global Women’s Summit, where former first lady and presidential candidate Hillary Clinton should also appear.

Ms Badenoch said: “The US and the UK share the same values ​​– freedom and free trade – and the result is a partnership bigger than any in the world.

“I am in DC to further strengthen our trade relationships and work with allies on critical issues such as strengthening supply chains, protecting our long-term energy security and creating jobs in industries of the future. .

“The UK and the US know that we cannot have security at home without security abroad, and we must make the global economy resilient to future shocks.

“Now is the time to roll up our sleeves and show how tough liberalism and free trade are a force for good in the world.”

Leave a Comment