UK strikes 5th Trade Deal with US state in latest Brexit win

Britain has struck its fifth trade deal with a US state in the latest Brexit win.

The Memorandum of Understanding (MoU) with Utah comes as the UK pushes to expand trans-Atlantic trade without a US-wide trade deal.

International Trade Minister Nigel Huddleston today met Utah Governor Spencer Cox in London to sign the agreement.

The deal includes fintech, aerospace, supply chain resilience and life sciences as priority sectors.

Mr Huddleston said: “Our MoU with Utah builds on our existing strong relationship by helping us unlock new opportunities for British businesses, particularly those in the fintech sector in which Britain is a global leader.

“The deals we have agreed with US states are already supporting UK businesses to grow their commercial links across the Atlantic.”

Mr Cox added: “We have an excellent working relationship with the British Consulate in Los Angeles and our counterparts in the UK.

“This agreement will lead to more exchange of best practices, government-led missions, private-sector partnerships, academic cooperation and capital investment, and we look forward to the increased collaboration.”

Utah had a gross domestic product (GDP) of £201billion in 2022, which is equivalent to the economy of New Zealand.

The deal with Utah follows state-level pacts with Indiana, North Carolina, South Carolina and Oklahoma.

The UK is also in negotiations with states including Texas, California, Colorado, and Florida to strengthen trade ties.

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