The Trade Bill will focus on giving Theresa May’s Government powers to strike new deals with both the EU and rest of the world with the aim of boosting the UK’s standing as a “global player”.
A key feature is expected to be provisions which would transfer the UK’s current free trade agreements with the EU in to British law.
The legislation will also feature powers to ensure British companies can bid for lucrative government contracts in European member states.
And the Bill is likely to include measures to better protect British firms from unfair competition from overseas.Related articles
GETTYBrexit news: Trade Secretary Liam Fox says the new Trade Bill will be an opportunity for UK business
For the first time in over 40 years the UK will be able to shape our own trade and investment agenda
Trade Minister Liam Fox said the legislation will pave the way to allowing Britain to strike its own deals after Brexit.
He said in a statement: "For the first time in over 40 years the UK will be able to shape our own trade and investment agenda - and we are determined that businesses and consumers can take advantage of this opportunity.”
A Government insider has been reported as saying a key principal of the Bill - enshrining the current EU trade deals in to UK law - will help limit disruption caused by Brexit.
Sky News quoted the unnamed source as saying most of the UK’s trading partners would welcome the clarity and would "enable us to maintain and improve our role as a global player".