December 8, 2022

Taylor Daily Press

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Many years after Brexit why there is still no UK-US trade agreement

Many years after Brexit why there is still no UK-US trade agreement

The United States and the United Kingdom will meet again on Tuesday to discuss trade. As the British left the EU a new treaty had to be drawn up with the Americans, which had not gone smoothly before.

Negotiations on the deal have been going on for a long time. For so long, in fact, British Prime Minister Johnson has sought to conclude separate agreements with various states in the United States late last year. A new trade agreement should not be drawn up with the United States alone. Steven Brockman, a professor of international economics at the University of Cronington, says: ‘Agreements need to be made with the European Union and the rest of the world. ‘America is the next greatest gift after the European Union. What is special here is that the Irish issue is being revived through those talks. The vast majority of the American population has Irish roots, which plays a role. Moreover, US President Biden was not swayed by the bilateral agreement, which was delayed.

The negotiating position of the British does not seem to be in good shape, but the United States should also get something out of an agreement. ‘The United Kingdom is also a major market for the United States. Five percent of American trade goes to the British, so they have an economic interest. ‘ However, Brockman finds another realization sinking. ‘We have realized that there are more disadvantages in trade than in the past. In the middle of the United States, they suffer from competition for the automotive industry. That voice sounds loud. Brockman thinks that’s one of the reasons why speeches are so difficult. ‘It’s increasingly important, and you see it happening in Europe as well. The large middle class suffers from technological advancement, among other things, and the resulting jobs are taken up by computers. But also by moving parts of companies to lower-wage countries. That element plays a key role in the debate. ‘

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

Elections

The unions in particular are the propagandists of this ideology. In addition, Brockman finds that the US midterm elections play a role. Biden also fears the large group that voted for Trump. Biden wants to have a majority in the U.S. House of Representatives, and it clearly plays a role in this debate, “said Brockman.

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