Femme Noir

As the United Kingdom formally withdrew from the European Union on January 31, 2020, the government immediately commenced efforts to secure continuity agreements to maintain trading relationships with other countries. One of the important continuity agreements that the UK government successfully negotiated was the UK Continuity Agreement with the United States.

The UK Continuity Agreement with the United States is a trade agreement that aims to maintain and enhance the commercial ties between the two countries, in the absence of a trade agreement between the UK and the EU. Prior to the agreement, the UK had been trading with the US on the basis of EU-US arrangements. However, with the UK`s exit from the EU, it was crucial to establish a new agreement that would enable the UK to continue to trade with the US on beneficial terms.

The UK Continuity Agreement with the United States is intended to reproduce existing EU-US trade arrangements, including provisions relating to tariffs, quotas, and regulatory frameworks. It also covers a wide range of sectors, including goods, services, and intellectual property.

The agreement is notable for the benefits it offers to UK businesses. For example, it eliminates tariffs on 98% of UK goods exported to the US, which is predicted to result in savings of approximately £42m annually. It also offers protections for UK intellectual property, which are expected to benefit a range of industries, including pharmaceuticals, software, and creative industries.

In addition, the UK Continuity Agreement with the United States is expected to provide the UK with a platform to negotiate further trade deals with other countries. As a major global economic power, the US can offer the UK access to new markets and opportunities that may not be available otherwise.

Overall, the UK Continuity Agreement with the United States is a significant development for the UK`s post-Brexit trade strategy. By securing this important agreement, the UK has demonstrated its commitment to maintaining and enhancing its trading relationships with other countries, and has taken a significant step towards securing its long-term economic future. As the UK moves forward in its post-Brexit era, it will be important to continue to nurture and develop these relationships to ensure its continued growth and prosperity.