British Prime Minister: ‘I Want Britain To Be Global Leader In Free Trade’

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Robert Donachie Capitol Hill and Health Care Reporter
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British Prime Minister Theresa May announced she hopes Great Britain becomes the “global leader in free trade,” during a Monday press conference.

Her comments came at the close of the G20 Summit — a meeting between 20 of the world’s largest economies. The Monday comments mark the end of May’s first summit as prime minister, and was the first meeting since Great Britain’s exit from the European Union.

May said the summit, hosted this year by China, was the first opportunity to “showcase Britain as a bold, outward looking nation.” It served as a reminder for the world it “can be confident about the fundamental strengths of the U.K. economy,” and furthermore “optimistic about the role” the U.K. economy will play in the future of the global marketplace.

May noted the U.K. will continue to “build on our strengths as a trading nation.” She said Britain has a “long history as a trading nation,” and has “long been one of the strongest advocates for free-trade.”

Following the Brexit decision, May set course for Britain’s “ambition to become the global leader in free-trade.” She has already pushed to “secure trade deals with countries from around the world.”

May has seen some of the fruits of her labor, citing leaders from India, Mexico, South Korea, and Singapore have all expressed willingness to “remove trade barriers.”

Australian leadership will also reportedly visit Great Britain next week to participate in discussions about a U.K.-Australia trade deal.

The British prime minister is expected to host a joint cabinet meeting in September to discuss how Great Britain will “pursue an ambitious trade strategy,” and decipher which markets the government “should prioritize.”

May expressed her dissatisfaction with a hands-off approach, stating the U.K. needs “bold action at home, and collective action abroad.”

The International Monetary Fund gave a gloomy economic forecast in late July following the Brexit decision. If May is able to secure trade deals for Great Britain, there may be brighter future predictions for the European economy. (RELATED: Gloomy Forecast From IMF After Brexit)

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