Brexit: UK-US agree to preserve trading arrangements

The UK has struck a deal with the US to preserve £12.8bn of trade after Brexit.

The mutual recognition agreement replicates the current deal between the EU and US on technical standards for exported goods.

International Trade Secretary Liam Fox said it would allow firms to “keep trading as freely as they do today”.

Earlier this week, Mr Fox came under fire for failing to ensure businesses trading overseas would be unaffected if the UK left the EU without a deal.

In that scenario, British companies would no longer be able to trade on the preferential terms the EU has agreed with about 70 countries.