Thursday, October 21, 2021
Google search engine
HomeBusinessJoe Biden Rejects Claims Of Looming US-UK Trade Deal

Joe Biden Rejects Claims Of Looming US-UK Trade Deal

As he met with Boris Johnson at the White House, Joe Biden downplayed the odds of brokering a post-Brexit free trade pact with the UK.

The goal, according to Downing Street, is still to get an agreement with the United States alone.

However, according to the BBC, UK policymakers are considering joining an existing North American trade pact rather than seeking a new agreement.

During the 90-minute conversation, the two leaders also covered Northern Ireland, climate change, and Afghanistan.

They “decided to continue working toward a future complete free trade deal,” according to Downing Street.

Mr Johnson, on the other hand, has previously dismissed the possibility of reaching an agreement with the US before the next general election, adding, “The Americans do negotiate very hard.”

Before the meeting, Mr Biden told reporters in the Oval Office that the two would talk about trade “a little bit,” adding, “We’re going to have to sort that out.”

A agreement would stimulate commerce by making it more affordable, typically by lowering or removing tariffs.

According to a person familiar with the government’s thinking, the UK may negotiate membership in the USMCA, an existing trade agreement between the US, Canada, and Mexico that was established after former US President Donald Trump tore up its predecessor, NAFTA.

The insider stated, “There are a lot of various methods to achieve this.” “The question is whether the current government in the United States is prepared. The ball is now in the United States’ court. Tango necessitates the participation of two people.”

A Deeper Analysis

Both sides have made it clear that there is no quick path to a trade deal, despite the fact that Brexiteers and President Trump both lauded the opportunity.

In his pre-show conversations, Mr Johnson hinted at that realism.

And the president pretty much confirmed that here in their meeting in the Oval Office.

The UK seems no longer to want to believe, or pretend, that doing business in a major deal is top of their list.

Instead, while the government is still pursuing a stand-alone deal with the US, there is a parallel track that is taking a more gradual approach, with changes to whisky tariffs and British beef already in place. However, Number 10 is now hopeful that the Americans will reconsider their stance on British lamb.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments