01 September 2017

David Davis' speech at US Chamber of Commerce

I’ve just flown in from Brussels where I’ve been busy in the detailed negotiations over our departure from the European Union.

For the UK, the overarching aim of those talks is securing a successful future partnership with the EU.

One that delivers the most seamless and frictionless trade in goods and services possible.

There are many that doubt this is possible but, as I said to my European counterpart, Michel Barnier.

The pessimist sees difficulty in every opportunity. The optimist sees possibility in every difficulty.

As ever — I am a determined optimist.

Because fundamentally I believe that a good deal is in the interests of both the UK and the EU – and, indeed, of the entire global community.

I know that US firms, including many of those who are represented in this room, want clarity over our approach to Brexit.

But you’ll understand better than anyone that you don’t start a negotiation, knowing its exact conclusions.

Instead you know its broad aims in advance, and navigate the best way to achieve the desired outcome. [...]

The bottom line is that the only sustainable way to deliver better public services, higher real wages and increased living standards, is through boosting productivity.

That means more trade, not less;

For Britain it means maintaining our strong trade links with European markets after we leave the EU

as well as seeking out new opportunities for trade and investment with old friends and fast growing emerging economies alike. And that’s why the Trade Secretary was here in July to launch the US-UK Trade and Investment Working Group, dedicated to comprehensively strengthening our bilateral relationship. [...]

[...]There is no future in our trying to be cheaper than China, or the other emerging economies which have enormous low wage cost advantages.

And while I am no fan of excessive burdens for business, we cannot do much to eradicate this disadvantage with less regulation.

So after we leave the EU, we will not engage in a race to the bottom.

That would mean lower global standards for our consumers and poorer prospects for our workers.

An independent Britain after Brexit has the opportunity to lead a “race to the top” on quality and standards across the globe.

Acting as a global leader, raising standards across the world.

Focusing on the high quality, high innovation, high value added sectors where the developed world can compete. [...]

So taken together, this is our vision for Britain after Brexit.

A bold vision of international cooperation in which countries like the US and UK can provide global leadership

A Britain committed to striking new free trade agreements across the globe, including with the EU.

A Britain co-operating with our friends and allies to drive up standards around the world.

A Britain that helps set the rules of the global system, and works to ensure that those rules are honoured. [...]

Full speech

© Department for Exiting the European Union