U.S. Treasury Secretary Jack Lew says Britain and the European Union should both show flexibility in Brexit talks. Rough Cut (no reporter narration)
ROUGH CUT (NO REPORTER NARRATION) STORY: Britain and the European Union should both show flexibility when London negotiates its future relationship with the bloc, U.S. Treasury Secretary Jack Lew said on Tuesday (July 12), warning Britain about a proposal to cut its tax rate. Lew said after meeting with French Finance Minister Michel Sapin in Paris that it was in the interests of all that talks between Britain and the EU produce a "highly integrated relationship". "It is important that both sides demonstrate flexibility in order to produce an amicable and mutually-acceptable outcome," Lew told a news conference with Sapin. "It is also critical that negotiations take place in a smooth, pragmatic and transparent manner," he said. France is pressing for Britain to quickly seek formal negotiations with the EU about its departure in order to reduce the uncertainty its referendum has created.