UK-US trade inquiry launched
2 February 2017
The International Trade Committee is launching an inquiry into UK-US trade relations.
The inquiry will examine the potential for a UK-US trade agreement, the opportunities and challenges any agreement might present and the implications for the production and sale of goods and services on both sides of the Atlantic. It will make recommendations to the Government on how it should approach trade relations with the US.
On launching the inquiry, Committee Chair Angus MacNeil MP commented:
"It seems highly likely that a trade deal with the US will be this Government's first step in their attempts to reshape the UK's economic relationship with the rest of the world. This will be a tough test. The UK will be entering negotiations led by a newly formed department. They may feel the need for a deal to show the rest of the world, and domestic audience, that the UK is open for business. And any outline agreement could impact on how our negotiations progress with the EU.
The US might not be expected to offer many concessions, either. In his first days in office, President Trump has not shied away from implementing his campaign pledges, no matter how radical. How will his pledge to buy American and hire American sit with his aim to negotiate a deal "very quickly" with the UK? Is the President's desire to prove his reputation for winning in deals bad news for a UK wanting some form of equal partnership?
Most importantly, this is a necessary inquiry as we must move beyond the showmanship and controversy that will no doubt be a feature of this process, and drill down to the detail of what is proposed. What should be the UK's red lines? What sectors could win and lose? Will access to public services be on the table?
Crucially, we want to explore how far Ministers should be prepared to go to get the marquee deal they are after."
Terms of Reference
Interested organisations or individuals are invited to submit written evidence to the Committee. The Committee is particularly interested in the following:
- what the UK's priorities and objectives should be in negotiating any such agreement;
- the possible impacts (positive and negative) on specific sectors of the UK economy from such an agreement;
- the extent to which any agreement could and should open up markets in services, including public services;
- the extent to which any agreement could and should open up markets in public procurement;
- how any agreement should approach regulation, including regulatory harmonisation;
- what dispute-resolution mechanism should form part of any such agreement; and
- what involvement, if any, the UK should seek to have in the North American Free Trade Area or any future regional free trade agreement involving the USA.
The deadline for written submissions is Tuesday 7 March 2017. Written evidence should be submitted via the inquiry page.
Written evidence submitted should:
- Have a one page summary at the front;
- Be no longer than 3000 words in length.