Kemi Badenoch to sign mega trade deal with Texas today | Politics | News

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Kemi Badenoch to sign mega trade deal with Texas today | Politics | News

Trade Secretary Kemi Badenoch has hailed a “landmark” new trade deal with Texas, the UK’s biggest trade pact with a US state since Britain left the EU.

For the first time ever, the state governor will travel to London today for a signing ceremony at 10 Downing Street.

The trade pact, set to benefit key sectors and grow Britain’s already significant exports to the southern US state, is the eighth agreement with a US state since Brexit and by far the largest in terms of GDP.

The deal will provide a huge boost to sectors including aerospace, advanced technologies, supply chains and critical minerals, infrastructure, transport services, and chemicals.

Texas has the second largest economy of any US state, with a GDP of £1.9 trillion, meaning it is larger than Italy, Canada and Russia.

The UK saw £14.7 billion of trade with Texas in 2023, and is already the state’s 8th largest export market for goods.

Speaking ahead of the landmark signing in Downing Street later today, Ms Badenoch said she is delighted to welcome Governor Abbott to Britain.

She added: “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.”

Ms Badenoch has racked up a number of international trade wins since taking up the job of Business and Trade Secretary one year ago.

The top Tory signed a memorandum of understanding with Florida last November, joining fellow states Indian, North and South Carolina, Oklahoma, Utah and Washington.

Refusing to rest after her laurels, the UK is already in active discussions to conclude deals with Colorado, Illinois and California.

Conor Burns, who was appointed as the US trade envoy in May, has also been credited with helping both Texas and Florida over the line.

Texas Governor Abbott heaped praise on the “critical role » Britain plays in the “Texas economic juggernaut”.

He said that strengthening the bond between Texas and the UK – their ninth largest trade partner – “is crucial for our shared economies to prosper”.

“By signing this Statement of Mutual Cooperation today, we will further promote economic growth on both sides of the Atlantic.

“Working with our British partners, we will chart a greater path towards success and opportunity and create an even more robust economic partnership.”

Ms Badenoch added that the trade deal’s strides on hydrogen cooperation alone will help unlock more than 12,000 jobs and up to £11 billion of investment by 2030.

Following the signing, the Texas delegation will join UK Government officials for a celebratory reception at Lancaster House this evening.

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