With Brexit on the horizon, UK representatives are reinvigorating relationships with key trading partners on every continent.  On 24 July, UK International Trade Secretary Liam Fox and U.S. Trade Representative Robert Lighthizer and U.S. Commerce Secretary Wilbur Ross launched a Trade and Investment Working Group to lay the groundwork for a trade deal to be negotiated after the UK exits the EU.  Fox reportedly arrived in Washington with a list of “confidence building” measures outside the EU’s purview that could be undertaken without violating the prohibition on negotiations with third countries while still an EU Member State. Initial talks are said to focus on “commercial continuity” and increasing bilateral trade.

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The basics are well-known:  having triggered Article 50 to terminate its membership in the European Union, the United Kingdom has a precious 18 months to get a deal done.  Unless every one of the 27 other Member States approve an extension of time, the UK will be a so-called “third country” vis-à-vis the EU on 30 March 2019.   The UK Government, under the leadership of Prime Minister Theresa May, has proposed a “hard Brexit” that enables the EU to conclude trade agreements with other countries in what has become known as the “Global Britain” approach.   Aspirations aside, the deal to be negotiated between the EU and the UK can range from virtually no change to the status quo for years to come to a quick and risky departure that greatly increases the pressure on the UK to negotiate favorable trade agreements with the EU and other trading partners.
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