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UK-US Future Trading Partnership: Negotiations

Volume 683: debated on Monday 2 November 2020

The fifth UK-US Free Trade Agreement (FTA) negotiating round took place from 19 to 30 October 2020.

This was the most intensive round of negotiations held so far, with 38 sessions covering 19 different chapter areas.

Almost all chapter areas are now in the advanced stages of talks. A significant proportion of legal text has been agreed across multiple chapters.

The round included focused discussions on market access for goods, including negotiations around product specific rules of origin, which determines whether or not a product can benefit from preferential tariffs under the FTA.

We also held detailed textual discussions on a digital chapter and agreed much of the legal framework for a future agreement.

Following the significant progress made in talks to date, both sides are confident that we are on track for a comprehensive agreement which would provide a significant and mutual benefit to our economies. We believe we are in a good position to move forward after the US election.

We have agreed a programme for continued talks at official level for the weeks following the US election.

Below is a summary list of those workstreams discussed in the round:

Competition

Core text

Cross cutting services

Customs and trade facilitation

Digital

Environment

Financial services

Good Regulatory Practice (GRP)

Investment

Intellectual property

Market access for goods

Rules of origin and origin procedures

Sanitary and phytosanitary (SPS)

Sectoral annexes

Services sectors—Professional business, transport and delivery services

State owned enterprises

State to state dispute settlement

Telecoms

Trade remedies

[HCWS545]