The UK is the largest foreign investor in the US, new research from the Confederation of British Industry (CBI) reveals today.
At the end of 2013, the UK had $519bn (£333bn) in the US, $200bn more than the next largest investor.
The CBI estimates that 962,900 jobs are supported by investment from UK firms. The UK was the biggest export market for the US service sector in 2014, while the UK was the biggest source of services imports for the US. CBI international director Simon Moore said the UK and US should push ahead with the Transatlantic Trade and Investment Partnership (TTIP), a free trade deal which is currently being negotiated between the US and the EU.
“To boost this unique relationship, it’s vital that both the UK and the US pursue TTIP with vigour, to take full advantage of the opportunities to boost growth and create jobs across our countries and Europe,” Moore said.