President Trump In The UK

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Last week marked President Trump's first official visit to the United Kingdom. It is a symbolic moment for both countries, recognising our unique and close bond. It is a chance to strengthen our bilateral relationships across trade, security and defence: the highest level of special, as the President has said.

I was able to greet President Trump as he stepped onto British soil to show him a modern Britain that is outward-looking and ambitious. A Britain that can deliver for the people of both our countries.

And this is the central premise of trade — that it is mutually beneficial. We can see this clearly with the USA. We trade more with the US than any other country. Every day, a million British nationals go to work for American companies in the UK — and a million Americans go to work for British companies in the US. The UK and the US are the largest investors in each other's economies, with over $1 trillion invested in total.

I am delighted that both the President and the Prime Minister voiced their support for securing an ambitious and fair deal on trade after Brexit, which, as they have both said, is perfectly possible under the Chequers plan.

In fact, just before the President's visit, officials from both countries took part in the fourth meeting of the UK-US Trade and Investment Working Group in London. This regular, quarterly dialogue is part of our ongoing relationship to strengthen trade and investment ties as well as providing commercial continuity for US and UK businesses, workers and consumers as the UK leaves the EU.

We share a common history with a foundation based on our shared commitment to business. We recognise, as the largest foreign investors in each other's economies, that the business community plays an integral role in our relationship. This will be exemplified by the companies represented at the dinner with President Trump at Blenheim Palace on his first night in the country.

More broadly, we see the impact of this in sectors such as our creative industry where we and the US share an expertise. It has helped foster exciting creative collaborations such as the filming of HBO series "Game of Thrones" at Titanic Studios in Belfast contributing £110m to the Northern Irish economy.

Both countries also share automotive ties. Jaguar Land Rover's sales in the US allow them to support more than 8,000 American jobs. This has helped facilitate the upcoming move of their North American headquarters in New Jersey this year which represents a $30 million investment in the area, creating 400 jobs.

But UK-US trade goes beyond business-to-business relations: 4.5 million Britons visit the United States every year, spending approximately $14 billion. The UK also received 3.5 million visits from Americans in 2016 with an average spend of 971 pounds per visit.

Source : http://www.businessinsider.com/us-uk-trade-after-trump-visit-investment-soaring-2018-7

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