UK would like to reach trade agreement with U.S. by mid-next year, says minister

FILE PHOTO: Britain's Secretary of State of International Trade and Minister for Women and Equalities Liz Truss leaves Downing Street, in London, Britain, July 14, 2020. REUTERS/Hannah McKay

LONDON (Reuters) - Britain would like to reach a trade agreement with the United States by the middle of next year but such a date is not a firm deadline, trade minister Liz Truss said on Monday.

“We’ve pretty much laid all the text on both sides. We are now in a position of consolidating those texts, so if you like that’s laying the foundations of the deal,” Truss told an event by the Spectator magazine.

“Of course we’d like to make as much progress as we can in advance of the U.S. election ... so that we can try to realise the benefits as quickly as possible,” she said, adding that U.S. Trade Promotion Authority is due to expire in the middle of next year “so that is an important point to reach an agreement by”.

Reporting by William James, writing by Elizabeth Piper; editing by Michael Holden