October 22, 2021

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Britain has no current hope of joining big trade deals

Britain has no current hope of joining big trade deals

Joe Biden also criticized Britain.

25. September 2021 or 13:47 TASR

Washington. Emanuel Adam, head of trade policy for British-American trade, said the UK currently has no confidence in joining major trade deals.

“The CPTPP trans-Pacific agreement and especially joining the North American USMCA is not really, at least in the future,” Adam told the DPA.

He agreed that it was not yet time to talk about joining the US Trade Agreement. Mexico And Canada (USMCA). “But this idea is a little strange.”

Biden criticized Britain

British Prime Minister Boris Johnson He hoped that London would conclude a free trade agreement with the United States, one of Britain’s key targets after Brexit. However, its closure is delayed.

President of the United States Joe Biden It clarified that such a bilateral agreement was not currently a priority and also criticized London’s role in the dispute with the European Commission over the North Sea; Ireland And breach of the terms of the Brexit Agreement.

Following this failure, the British media reported that the United Kingdom wanted to join the USMCA.

“It is not clear whether the USMCA will allow the entry of other allies, especially if such access is only a reconsideration of the most difficult agreement that has been reached recently,” Adam said. He noted that the United Kingdom already has trade agreements with Canada and Mexico.

The situation surrounding the CPTPP Trans-Pacific Partnership is also complex.

“Negotiations to join the CPTPP are still in the early stages, but China also intends to join, which will complicate the whole process.”

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At least Atlantic economic cooperation

The British American Chamber of Commerce calls for at least Atlantic economic cooperation, “no trade agreement between the United States and the United Kingdom will end.” This means Washington and London can enter into specific agreements, for example, in data transfer, trade in digital services and technology, and so on, Adam said. According to him, this will help small and medium enterprises.

“It may carry more weight in the medium term than long negotiations with an uncertain outcome.”