The fifth UK-U.S. 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 U.S. election.
We have agreed a programme for continued talks at official level for the weeks following the U.S. election.
Below is a summary list of those workstreams discussed in the round:
- Core Text
- Cross Cutting Services
- Customs and Trade Facilitation
- Financial Services
- Good Regulatory Practice (GRP)
- 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
- Trade Remedies
This statement has also been made in the House of Lords