WASHINGTON, D.C.— The U.S. Chamber’s U.S.-UK Business Council issued the following statement today from Marjorie Chorlins, executive director of the Council, following Prime Minister Theresa May’s address on the UK’s approach to Brexit:
“We commend Prime Minister May’s call for a transition period based on the existing structure of EU rules and regulations. A transition period will help avoid a sudden and damaging shock to trade and investment flows and will ensure that businesses, workers, and citizens need adjust only once to accommodate the new terms of the relationship.
“While we welcome the UK’s commitment to abide by existing EU rules and regulations during the transition period, more clarity is urgently required on the way forward.
“Brexit talks resume next week in Brussels, and with limited time remaining before the UK leaves the EU, the two sides must negotiate a high-standard trade and regulatory cooperation agreement that will minimize economic and social costs associated with the reset in UK-EU relations. As the talks continue, it is vital for negotiators to continue to engage meaningfully with key stakeholders, and the U.S.-UK Business Council stands ready to help.”
The U.S.-UK Business Council recently released a report outlining the priorities of the international investment community across a number of key policy areas in order to safeguard prosperity and boost economic growth across Europe.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 70 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.