As UK accelerates post-Brexit freeport plans, Truss takes lessons from U.S.

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As UK accelerates post-Brexit freeport plans, Truss takes lessons from U.S.
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Britain is accelerating its post-Brexit plans to develop freeports to boost trad...

WASHINGTON - Britain is accelerating its post-Brexit plans to develop freeports to boost trade, Trade Secretary Liz Truss said on Thursday after meeting with U.S. Secretary of Commerce Wilbur Ross to discuss similar U.S. projects and a U.S-UK trade deal.

Truss was due to visit the Port of Newark, New Jersey, one of roughly 300 U.S. freeports, on Friday as part of her first overseas trip after taking office two weeks ago. She said freeports could help Britain achieve its goal of displacing Germany to become Europe’s largest economy. Freeports, also known as free trade zones, are areas where goods or raw materials can be stored or made into finished goods free of customs duties and taxes before being exported again.

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