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Trade heads of the United States and the United Kingdom meet, agree to improve bilateral ties

Trade heads of the United States and the United Kingdom meet, agree to improve bilateral ties

In a meeting in Washington on Tuesday, U.S. Trade Representative Katherine Tai and her British counterpart Liz Truss agreed to continue working to expand bilateral ties and connections, according to Tai’s office.

Tai and Truss agreed that their recent settlement in a long-running trade dispute over Airbus (AIR.PA) and Boeing (BA.N) subsidies provided a framework for “future collaboration on common issues, particularly those posed by China’s and other non-market economies’ anti-competitive activities.”

They also emphasized the significance of free and fair competition in the global economy, and they promised to collaborate to improve the international trading system and address concerns of forced labor.

Trade heads of the United States and the United Kingdom meet, agree to improve bilateral ties
Britain’s Trade Minister Liz Truss walks after the ceremony of State Opening of Parliament at the Palace of Westminster, amid the coronavirus disease (COVID-19) restrictions, in London, Britain, May 11, 2021. REUTERS/John Sibley

China has been a key source of friction in most countries’ relations, particularly between Europe and the United States. This is because the West believes China is participating in unfair trade practices that benefit its economy at the expense of others.

Truss said the two talked about tackling unfair trade practices, making progress on big civil aircraft cooperation, and strengthening the 196 billion pounds ($270.75 billion) trade relationship.

She remarked on Twitter, “Trade = growth Means jobs.” Truss will fly to the West Coast on his five-day tour to the United States to showcase Britain as a digital investment destination.

When Donald Trump was president, the UK, and the US began talks on a post-Brexit free trade agreement, but these fell through before Joe Biden assumed office in January.

All new trade agreements have been put on hold by the Biden administration while it examines Trump’s trade policies.

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