UK's Truss: Seeking far-reaching and mutually beneficial tariff reductions in trade deal with US

"We will drive a hard bargain in trade talks with countries around the world and will be prepared to walk away if that is in the national interest," British Trade Secretary Liz Truss said on Thursday in a written statement to parliament.

The GBP/USD pair trades in the lower half of its daily range and was last down 0.2% on the day at 1.2975.

Key quotes

"In trade deal with the US, the UK seeking far-reaching and mutually beneficial tariff reductions."

"In deal with the US, will aim to remove measures that currently restrict UK trade and to prevent their imposition in future, while upholding the safety and quality of products on the UK market."

"In trade deal with the US, we will not compromise on our high animal welfare and food standards."

"Deal with the US will provide a boost for UK service sectors including financial services, telecommunications, professional and business services, and transport services."

"Will aim to secure ambitious commitments to ensure fair competition and improve market access for UK services exporters."

"Will ensure UK investors operating in the US have the same level of protection and standards of treatment they receive in the UK."