From the document: "The United Kingdom (UK) is a major U.S. trade and economic partner, and foreign direct investment (FDI) and affiliated activity are key aspects of bilateral ties. The United States is the UK's largest trading partner by country, while the European Union (EU), as a bloc, is its largest overall partner. Brexit, the UK's withdrawal from the EU, and the conclusion of a new UK-EU trade agreement are significant for a potential U.S.-UK free trade agreement (FTA), initiated by the Trump Administration. If a Biden Administration continues FTA negotiations, Congress may actively monitor and shape them, and could consider implementing legislation for any final agreement"
CRS In Focus, IF11123
Congressional Research Service: https://crsreports.congress.gov/