October 4, 2022

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The United Kingdom and the United States are negotiating a new trade agreement

The United Kingdom and the United States are negotiating a new trade agreement

The United States and the United Kingdom will discuss a trade deal that Prime Minister Boris Johnson has already pledged to Britain. British Foreign Secretary Anne-Marie Travelian and her US envoy Catherine Toy met in Baltimore today to discuss the future of Atlantic trade between the two countries.

Today’s goal is to initially improve diplomatic relations between the United States and the United Kingdom. Above all, relations from Brexit are under pressure, says Stephen Coopman, a senior market economist at Rabobank. It is related to the border issue of Northern Ireland, in which the European Union and the United Kingdom are at odds. The British Conservatives are threatening to torpedo their agreement with the European Union. If that happens, the so-called Belfast Pact will come under pressure and the Northern Ireland peace process will be in turmoil. Something that US President Joe Biden wants to avoid.

Trade between the United States and the United Kingdom

Atlantic overseas trade between the United Kingdom and the United States is about € 240 billion a year. The trade deal with the United States was important to British Prime Minister Boris Johnson – for the British it accounted for 20 per cent of their total trade and for the Americans only 5 per cent. So it is very important for the British to succeed in these negotiations.

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