Donald Trump said a trade deal with the UK was possible while he was in office. Photo: Justin Sullivan/Getty Images North America
Britain has pinned its hopes for a trade agreement with the US on Donald Trump after Joe Biden abandoned early talks.
Whitehall sources told The Telegraph that ministers hope the post-Brexit free trade agreement (FTA) can be restored as part of the post-Brexit free trade agreement (FTA). second Trump administration following the US elections next November.
Mr Biden has been reluctant to discuss a deal with Britain after launching a series of protectionist “Bidenomics” policies, and the likelihood of a free trade deal under his administration is now seen as “zero”.
On Monday he was reported to have pulled out of talks on a temporary deal known as a “fundamental” agreement that would provide for transatlantic cooperation in 11 areas of trade and regulation. An agreement would pave the way for negotiations on a full deal.
The president is under pressure from the Democratic left in Congress, where senators say such an agreement would undermine protections for American workers ahead of next year's elections, Politico reports.
Mr. Biden has since stopped. trade talks with other countries as the White House focuses on boosting U.S. production in key industries including clean energy and computer chips.
However, it is believed that if Mr Trump is elected next year, it could lead to the resumption of negotiations for a full deal, which the former president once described as “very significant” and which would likely lead to a “triple increase” in current trade levels. four, five times.”
He later pulled out of negotiations over concerns about the Brexit deal reached with the EU by Boris Johnson's government.
A Whitehall source told The Telegraph: “When the agreement was drawn up it was because Trump said a trade deal with the UK was possible so a White House without Biden could be more accommodating. For our part, we've always said that if America wants a deal, we're willing to make a deal.
“There's a lot you can do beyond a trade deal, but Trump has said before that a trade deal is possible.”
Concluding a major deal with the United States was a fundamental moment for the Conservatives. ministers after Barack Obama told voters in 2016 that the UK would be “at the back of the queue” if it voted for Brexit.
The US is Britain's largest trading partner as a country, accounting for 17 per cent of total exports for the year to June 30 of this year.
However, trade talks have also faced significant delays, including a long-running controversy over Britain's decision not to allow the export of chlorine-washed chicken from US farmers to the UK.
Any future Trump administration will be unable to begin negotiations with Britain until the next inauguration in January 2025, which could mean negotiations will be led by Sir Keir Starmer's Labor Party.
The Telegraph understands Labour's plan for trade relations with the US will not include seeking a full free trade agreement trade with the United States, which officials say will take too long and become bogged down in disputes over chicken and other agricultural products.
Instead, the party would prefer to negotiate smaller agreements in specific areas to avoid delays. on key issues and increase the West's independence from China.
Sector-specific deals Labor strikes are likely to include an agreement on critical minerals used in electric vehicle batteries such as lithium and cobalt, pharmaceuticals, artificial intelligence . and quantum computing.
Recent Comments