UK Agrees to Trade Deal With Texas as Biden Continues to Reject Post-Brexit National Agreement.
Getty ImagesBritain agreed to a trade deal with Texas as the UK government continues its strategy of inking agreements with individual American states as the Biden Administration remains unwilling to sign a national post-Brexit trade deal, a position that can at times give the impression of being a punishment for the British people ignoring President Obama’s instruction to vote for Europe in 2016.
Downing Street announced on Wednesday that it has agreed to a Statement of Mutual Cooperation trade pact with Texas, the second-largest economy in the United States with a GDP of £1.9 trillion ($2.4 tn) in 2022, which if counted as a single country would be the eighth largest economy in the world, beating out Italy and just trailing behind France.
With the Biden White House shutting down any hopes of a post-Brexit trade deal between the two allies, the UK has taken to doing deals with individual states in America. The agreement with the Lone Star state marks the eighth such deal but by far the largest agreement to date.
LONDON, ENGLAND – MARCH 13: Kemi Badenoch, the UK Business and Trade Secretary (R) and Texas Governor, Greg Abbott (L) sign a trade pact to boost trade and investment ties between the UK and Texas, in Downing Street on March 13, 2024 in London, England. The Business and Trade Secretary hosted Texas Governor Greg Abbott to recognise the enduring collaboration between the UK and Texas.(Photo by Peter Nicholls/Getty Images)
Number 10 said that the UK is already the eighth-largest international goods export market for Texas, with trade in goods hitting £14.7 billion in 2023.
The British government said that the agreement with Texas will seek to make it “quicker, easier, and cheaper for UK and Texas firms to do business” together by reducing trade barriers and increasing investment.
The agreement will specifically seek to increase cooperation in “areas of opportunity and future growth, such as aerospace, advanced technologies, supply chains and critical minerals, infrastructure, transport services, and chemicals.”
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The relationship between the United Kingdom and Texas stretches back to even before the state was annexed and incorporated into the Union. A physical representation of this relationship remains in central London, with the building which housed the Texas Legation diplomatic mission to the British Empire from the Republic of Texas between 1836 and 1845 still standing today — marked with a plaque — in Pickering Place near St James’s Palace.
Commenting on the agreement Business and Trade Secretary Kemi Badenoch said: “Today’s signature with Texas marks the UK’s eighth US state-level pact, meaning UK firms now have access to states with a combined GDP of £5.3 trillion – equivalent to a quarter of the whole US economy. This shows our US state-level strategy is working and really delivering for British businesses. ”
Texas Governor Greg Abbott said: “As our ninth largest trade partner, the United Kingdom plays a critical role in the Texas economic juggernaut. Strengthening the bond between Texas and the United Kingdom is crucial for our shared economies to prosper.
