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The United Kingdom–United States Free Trade Agreement (UKUSFTA) is a proposed free trade agreement between the United Kingdom and the United States. [1]The UK became legally able to independently negotiate trade agreements when it left the European Union from 1 January 2020 due to a transition period which lasted until the UK formally exited the EU. [2]
The UKUSA Community: Australia, Canada, New Zealand, the United Kingdom, and the United States. The United Kingdom – United States of America Agreement (UKUSA, / j uː k uː ˈ s ɑː / yoo-koo-SAH) [1] [note 1] is a multilateral agreement for cooperation in signals intelligence between Australia, Canada, New Zealand, the United Kingdom, and the United States.
Bilateral or trilateral treaties for which the United Kingdom and the United States are parties. (For convenience, treaties between Great Britain (1707–1800) and the United States are also included in this category.) Multilateral treaties to which both the UK and US are parties should not be included in this category.
The treaty's full name is Agreement between the Government of the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland for Cooperation on the uses of Atomic Energy for Mutual Defense Purposes. It allows the US and the UK to exchange nuclear materials, technology and information.
The United States accounts for the United Kingdom's largest single export market, buying $57 billion worth of British goods in 2007. [225] Total trade of imports and exports between the United Kingdom and the United States amounted to the sum of $107.2 billion in 2007. [226]
The OED records the use of the phrase "free trade agreement" with reference to the Australian colonies as early as 1877. [9] After the WTO's World Trade Organization - which has been considered by some as a failure for not promoting trade talks, but a success by others for preventing trade wars - states increasingly started exploring options to conclude FTAs.
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