Negotiations are underway between governments in London and Washington about a free trade agreement – but a British trade expert is not expecting any conclusion at the moment. Emanuel Adam of the American-British Chamber of Commerce in London said that negotiations were not a priority for the new US President Joe Biden’s government. “It is difficult to see any movement on this subject anytime soon.”
Adam cites several reasons for this: Biden’s international trade policy is based on his predecessor Donald Trump and aims to eliminate perceived imbalances at the expense of the United States. A tariff is a means of doing this. In addition, the US Congress has a critical view on British government policy in the Brexit special rules dispute with the European Union for the British province of Northern Ireland.
One of the main arguments of Brexit advocates was the ability to conclude trade agreements independently. After leaving the European Union, Great Britain had removed the European Union’s punitive tariffs on many American products as a sign of peace for the United States. The government in Washington then temporarily suspended additional charges, for example, Scottish whiskey, knitwear and cheese and pork products. However, negotiations on an agreement between the two countries stalled.
Now the question is what approach the British government is taking, Adam said. There is a discrepancy between the cautious statements made by top politicians and the need to build your own trade network with the US as the central anchor. “How is the British government going to explain that the Free Trade Agreement with America has faded into the background?” Adam said.
The expert said that the Chamber of Commerce has always followed the negotiations in real terms. Adam said, “Of course, we are disappointed that the conversation did not happen, especially after all the good work.” “But we understand that we still have a better basis for the success of these negotiations.” The Chamber will now focus on this.
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