The IFT hosted with the Competitive Enterprise Institute (CEI) a bipartisan delegation of British MPs and former Secretary of State for Trade Rt Hon Penny Mordaunt to meet with key US Congressmen, academics, think tanks and business leaders to discuss the future UK-US relationship under Chatham House rules.

Views and insights were shared on the progress of talks, the priorities for both sides, and the best strategy for working together to make sure the deal signed this year is as comprehensive as possible, and to ensure that contains mechanisms by which it can be deepened and broadened without the need for secondary legislation. Parliamentarians from both sides agreed on the critical importance of clarity and cooperation in AI and digital regulation, and the scope and mutual advantage of a strategic energy deal. The US team included Dr Greg Murphy (R-NC) of the Ways and Means Committee, Chair of the National Republican Congressional Committee Mr Richard Hudson (R-NC), Chair of the Trade Subcommittee Mr Adrian Smith (R-NE), Chair of the Health subcommittee Mr Lloyd Doggett (D-TX), Trade Subcommittee Members Mrs Carol Miller (R-WV) and Mrs Michelle Fischbach (R-MN), and Brad Schneider (D-IL) of the Foreign Affairs Committee.

Work built upon the IFT’s policy paper, the “Ideal” US-UK Free Trade Agreement, which the IFT will be expanding and updating with the new scope and realities of UK-US trade, including a strategic, AI and energy chapter. The IFT was the original convenor of ten think tanks from both sides of Atlantic before Brexit, and so was ideally placed to reconvene these partners to build on the past consensus.

The “Ideal” UK-US FTA contains contributions from the Adam Smith Institute (UK), American Enterprise Institute (US), Centre for Policy Studies (UK), Competitive Enterprise Institute (US), Institute of Economic Affairs (UK), Manhattan Institute (US), Mercatus Centre (US), Politeia (UK), The Heritage Foundation (US).