WHEN: Today, Monday, June 19th
WHERE: CNBC's "Squawk Box"
Following are excerpts of the unofficial transcript of a FIRST ON CNBC interview with United States Commerce Secretary Wilbur Ross and UK International Trade Secretary Liam Fox on CNBC's "Squawk Box" (M-F, 6AM-9AM ET) today, Monday, June 19th. Following are links to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000628656, http://video.cnbc.com/gallery/?video=3000628655 and http://video.cnbc.com/gallery/?video=3000628653.
All references must be sourced to CNBC.
ROSS ON THE WHOLE PACKAGE
We're lowering taxes, we're cutting regulations, we're stimulating the workforce helping to develop the workforce of the future, unleashing our energy sources and redoing our trade agreements. That's the whole package that President Trump was elected on and it's the whole package that's driven the stock market to $4 trillion of gains since the election.
FOX ON TRADE
Trade negotiation is one thing and actual trading is another and of course the trades in goods and services last year between the United States and the UK was about $250 billion and that was up 8% on the year before which is remarkable given the slowdown in the rate of growth in global trade.
FOX ON INVESTING IN THE UK
The point that you make about why do people want to invest in the United States is the same as why do people want to invest in the United Kingdom. We have a rule of law that provides stability and security for investment. We have low regulation low taxation economies. We have a good skills base, a cutting edge research base. These are the reasons that will attract investment to us in the future.
FOX ON THERESA MAY
I'm very confident in the prime minister and I think she has the confidence of the parliamentary party. We met last week as a parliamentary group and she was cheered for the speech that she gave and I think she continues to have the full confidence of the parliamentary party. I think there is no one else I can see who would provide that kind of level of leadership at the present time.
ROSS & FOX ON REGULATIONS
Ross: The single most important thing that President Donald Trump is achieving is the regulatory unwind. The amount of red tape that's been cut out has been celebrated by every single CEO that has come to visit me because that's what has been strangling this country.
Fox: It's not the number of regulations that necessarily matter, but whether they're the right regulations, whether they're good regulations, whether they add to the stability in the market and confidence of investors and the ease of doing business. So I think we need to look at the regulations we have and see what is necessary for an effective functioning market.
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