Liam Fox

"The UK is open for business like never before," international trade secretary Liam Fox has said in a speech in the US.

On his first visit in the new international trade post, Mr Fox said he wanted to "ensure the UK and the United States strengthen our already close trading ties".

Speaking at the Sage Summit in Chicago, he said: "A vote to leave the European Union and a change in government means we now have a golden opportunity to make Britain a truly global trading nation: a nation that businesses around the world want to do business from and with."

Mr Fox told the audience that "strong underlying economic fundamentals" had been the reason the UK secured a record share of foreign direct investment from the EU in 2015, and will be the reason the UK continues to be an attractive destination for investors.

He also pointed to low levels of unemployment, strong economic growth compared with the rest of the EU, low tax and a skilled workforce.

While highlighting recent investments made by foreign companies in the UK, like SoftBank's £24 billion purchase of ARM Holdings, the international trade secretary said: "But what is important to realise is that investment is a two-way street.

"We welcome foreign direct investment for the jobs it creates and the societies it transforms, but we must not forget that the UK is a significant global investor in its own right.

"Between the UK and US, nearly $1 trillion worth of investment flows across the Atlantic: making us each other’s largest investor, and each other’s largest foreign job creator."

Continuing what many could describe as a global charm offensive on non-EU economies in the wake of the Brexit vote, Mr Fox said: "I want the UK and USA together to lead the world as shining beacons of open trade."