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Landmark trade pact with Texas ...and its £1.9trillion economy
Daily Express
|March 13, 2024
KEMI Badenoch is celebrating a "landmark" trade pact with Texas, the UK's biggest deal with a US state since Britain left the EU.
The Trade Secretary and Texas Governor Greg Abbott are expected to formally sign the agreement in Westminster today.
It is not a trade deal, because US states do not have the power to sign them, but it takes the form of a memorandum of understanding. This designed to improve cooperation between firms in Britain and Texas and tackle regulatory barriers.
The pact, which is set to benefit key sectors and grow the is UK's already significant exports to the southern US state, is the eighth agreement with a US state since Brexit and by far the largest in terms of GDP.
It will provide a huge boost to sectors including aerospace, advanced technologies, supply chains and critical minerals, infrastructure, transport services and chemicals.
This story is from the March 13, 2024 edition of Daily Express.
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