Readout From A Treasury Spokesperson Of U.S. Treasury Secretary Jacob J. Lew’s Meeting With U.K. Chancellor Of The Exchequer Philip Hammond

U.S. Treasury Secretary Jacob J. Lew met today with new Chancellor of the Exchequer Philip Hammond.
 
Secretary Lew began the meeting by congratulating Chancellor Hammond on his recent appointment and said he looked forward to working closely with the Chancellor and his colleagues to ensure continued economic stability, security, and prosperity in UK, Europe, and beyond. 
 
During their conversation, Secretary Lew noted that this is an important period of change for the British government and people as the United Kingdom begins to outline its objectives and engage with the European Union following the referendum.  Secretary Lew reiterated that the United States remains fully committed to maintaining strong, historic ties both with the UK and the EU. 
 
As the new government begins its work with the EU, the Secretary emphasized that a result that produces a highly integrated relationship between the UK and EU is in the best interests of Europe, the United States, and the global economy.  Secretary Lew stated that it is critical that negotiations take place in a smooth, pragmatic, and transparent manner, which would provide certainty during a period that will take some time to work through.  It is important that both sides demonstrate flexibility in order to produce an amicable and mutually acceptable outcome, and that we maintain the strength and unity of the transatlantic community and alliance. 
 
The U.S. economy continues to perform in a stable, steady way despite headwinds from the global economy.  Secretary Lew noted the importance of using all tools available – monetary, fiscal, and structural – to continue to promote shared growth.  The use of all available policy tools will continue to be the focus at next week’s G-20 Finance Ministers and Central Bank Governors Meeting in Chengdu, China.