BritishAmerican Business Statement on UK General Election Result

BritishAmerican Business Statement on UK General Election Result

13 December 2019

London/New York – We congratulate the Prime Minister on his victory in the General Election.

The transatlantic business community represents the UK’s single most important economic relationship; a relationship that is defined by jobs, innovation and growth for the UK. The success of American and other international firms in the UK is a consequence of the UK’s stability and openness to trade and business.

In that context, we hope that the election outcome will lead to an end of the uncertainty caused by the UK’s decision to leave the EU. BritishAmerican Business endorsed the Withdrawal Agreement negotiated between the previous UK Government and the European Commission and we remain committed to supporting this deal.

But it is essential that leaving the legal construct of the EU goes hand in hand with a free trade agreement that preserves tariff and friction free trade between the UK and EU. The transition period should be used to negotiate an agreement and this period should be extended if more time is required. Work can begin in parallel on a future UK-US agreement, but the priority must be to settle the UK-EU relationship first.

Our commitment and investment in the UK go back more than a century. It is our goal to ensure that the UK remains a place where companies want to invest and people want to work. We look forward to working closely with the new government in the months to come.