Unpacking the latest developments in UK trade policy in a month where Liz Truss took the reins as Secretary of State.
After much speculation about the future of the Department for International Trade, Prime Minister Johnson opted for continuity, keeping the department but with a new face at the top.
Truss trades up
One of Prime Minister Johnson’s first decisions was to appoint former Chief Secretary to the Treasury Liz Truss as his new International Trade Secretary, replacing Dr. Liam Fox. Truss has hit the ground running, re-focusing the department on three key priorities: preparing businesses for Brexit; securing a Free Trade Agreement (FTA) with the United States; and creating 10 new free ports across the UK. The CBI will be discussing all three issues with Truss when Carolyn has her first call with her towards the end of the month. We expect them to dominate the agenda at the September meeting of the Strategic Trade Advisory Group (STAG), which will likely continue to play an important role in guiding future trade negotiations outs
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