Britain's departure from the EU could produce a number of extraordinary opportunities. Among them — an opportunity to deepen and expand economic ties between the US and, therefore, the UK. For decades, the EU's significant restrictive hand has inhibited Britain's economy and hampered trade with the US. Differing restrictive and legal standards considerably constrain trade in financial services, telecommunications, automobiles, and skilled services. And USA farm products face tariffs averaging 11 November. If the United Kingdom regains control over its national trade policy when it severs ties with the EU, we could have a chance to forge a comprehensive US-UK trade agreement. Yesterday the United Kingdom Speaker of the House, John Bercow, blocked a vote on the Brexit deal approved by negotiators for the United Kingdom and EU last week. The deal would allow Great Britain to break with Brussels at the end of this month. If the deal fails to garner enough backing in Parliament, Brexit could probably be delayed once more, this time most likely till early 2020. Amid the seemingly endless turmoil, it can be easy to lose sight of the light at the end of the tunnel. As 2 of the foremost innovative countries in the world, we are able to write new rules on digital trade which will make sure the free flow of data across borders, take away restrictions on e-commerce and exempt digital products from custom duties. Opening up the digital scheme can incentivize billions of dollars in new investment, giving the USA a leg up in the race to develop the transformative technologies of the future, like AI, the internet of things, and quantum computing. We are able to eliminate nearly all tariffs and expand market access for thousands of products. This can offer businesses a lot of export opportunities and lower costs for customers. We can scale back the prices and compliance burdens imposed upon businesses of all sizes across nearly every business. And we could incentivize billions more in cross-border investment by facilitating deeper integration of our financial services markets.
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