The UK Government has today published its negotiating objectives and economic assessment for a free trade agreement with the United States. Catherine McGuinness, Chair of the City of London Corporation’s Policy and Resources Committee, said:

“The UK and USA are the world’s leading exporters of financial services and are each other’s biggest services trading partners, so these negotiations are an opportunity to set a new global standard on what is possible on cross border financial services trade.

“As the biggest contributor to the UK’s trade surplus in services and as a key driver for the prosperity of businesses and households on both sides of the Atlantic, the financial services sector should be a top priority in any future free trade agreement.

“Alongside these discussions, closer cooperation on regulatory issues can play an equally important role in increasing transatlantic trade in financial services.”

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk

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