Britain, Texas forge new trade path with landmark deal

Britain signed a memorandum of understanding with Texas, marking the largest state-level trade agreement of its kind for Britain to enhance investment opportunities and economic collaboration, Reuters reported on Wednesday.

The pact, which is set to be signed on Wednesday, aims to enhance investment opportunities and economic collaboration.

Amidst stalled negotiations for a comprehensive Free Trade Agreement at the federal level, Britain shifted its focus to individual states, securing a series of agreements that now grant British firms access to a collective market with a GDP of £5.3 trillion ($6.76 trillion), representing a quarter of the entire US economy.

The deal with Texas, which boasts the second-largest state economy in the US, targets key sectors including energy, life sciences, and professional services.

This strategic alliance follows a similar agreement with Florida four months prior and comes as Britain engages in discussions with other states such as California, Colorado, and Illinois.