The UK and Florida have signed a memorandum of understanding (MOU) to boost trade and investment with business and trade secretary Kemi Badenoch saying progress was also being made with the US federal government on a broader agreement.

Badenoch signed the MOU in Florida alongside governor Ron DeSantis and said that she sees “huge opportunities” for UK businesses in the US’ fourth largest state.

The deal focuses on space, financial technology, artificial intelligence and legal services, and is the seventh that the UK has agreed with a US state.

The UK adopted a strategy of pursuing state-level deals after president Joe Biden said that his administration would not pursue a federal trade agreement with the UK.

State-level deals have a limited impact compared to country-wide agreements because they don’t include preferential tariffs although The UK did secure a country-wide agreement of sorts with the US in June, when president Biden and prime minister Rishi Sunak signed the Atlantic declaration, which enhanced ties over advanced technologies, clean energy and critical minerals.

The UK also secured an agreement to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) earlier this year – the UK is the first ever new member and the only European member.