Categories: Featured

The United States brushes aside the possibility of a post-Brexit trade agreement with the United Kingdom.

While the United States is the world’s largest economy, Britain’s trade with the EU accounts for a much greater percentage of its annual GDP. That’s why Prime Minister Boris Johnson’s government made it a top priority to negotiate a deal that would prevent tariffs from being imposed on trade between the UK and the EU.

In an interview with BBC radio on Thursday, Blinken said any deal will take “some time” and that US President Joe Biden wants to make sure any trade agreement supports American workers and their families.

Blinken stated that the US’s new trade negotiator, Katherine Tai, might need time to study the discussions with Donald Trump’s previous administration before moving forward with the negotiations.

Trump had been a strong supporter of a trade agreement with the United Kingdom, which officially left the European Union’s economic system at the start of this year. Since the UK is no longer a member of the EU, it might seek its own trade agreements; previously, the EU negotiated trade deals on behalf of its members.

While the EU and the US may not have a substantive trade agreement, they do have a range of bilateral agreements to promote trade, such as those on transportation.

Non-tariff barriers, including such customs checks, hinder trade and boost operating costs in the absence of tariffs.

 As part of the deal, the British government agreed to conduct customs checks on some items travelling between Northern Ireland and the rest of the UK to ensure that there is no border between Northern Ireland and EU member Ireland, which did not happen when the UK appeared to be a member of the EU.

In his question and answer session, Blinken emphasized how important it was for the president, who seems to have Irish ancestors, to protect the progress made by the 1998 Good Friday Agreement, which provided aid to Northern Ireland.

World Economic Magazine

Share
Published by
World Economic Magazine

Recent Posts

McLane360 Signals a New Digital Chapter for Convenience Retail

Convenience retail is becoming an increasingly data-driven business, with operators balancing tight margins, shifting consumer…

1 week ago

Vali Cyber Targets a Critical Blind Spot With Multi-Factor Authentication for Hypervisors

As enterprises have moved more workloads into virtualised environments, the hypervisor has become a critical…

1 week ago

FIA and WRC promoter confirm final round of the 2026 FIA World Rally Championship

Rally Saudi Arabia will not form part of the 2026 FIA World Rally Championship due…

1 week ago

Teva Expands Its Outdoor Proposition With a Fall Collection Built for Trail and Everyday Adventure

Outdoor footwear is increasingly expected to do more than perform on a trail. Consumers move…

1 week ago

Go Brewing Bets on Performance Culture as Non-Alcoholic Beer Enters Its Next Phase

The non-alcoholic beverage market is beginning to move beyond the simple promise of drinking less.…

2 weeks ago

Nextpower Links Sustainability Targets to Supply Chain Accountability and Clean Energy Growth

For clean-energy technology companies, sustainability reporting is increasingly moving beyond a compliance exercise. Investors, customers…

2 weeks ago