Woody Johnson, U.S. ambassador to the United Kingdom, has indicated that a trade agreement between the two countries is close to being reached while the negotiations are closer to reaching a decisive point after Brexit was approved.
“Free trade between our countries will lift us all to prosperity! Our trade negotiations are making great progress. We will get this done,” Johnson wrote on his Twitter account.
So far, the desire of the United States and the UK to reach an agreement has been hampered by the same delays in Brexit, as well as the trade talks that ended up being affected by the crisis of the CCP Virus or new coronavirus, according to Breitbart News.
Last July, United States Trade Representative Robert Lighthizer assured that it would be: “almost impossible” that the United Kingdom would secure a commercial agreement with President Trump before the American elections.
European Union ambassadors gave unanimous approval to the Brexit agreement on Dec. 24, according to German spokesman Sebastian Fischer. The decision was made during a meeting to evaluate the Christmas Eve agreement.
As Lighthizer told the BBC, the Trump administration hopes to secure a mini trade agreement because if Biden were to become president, he could bring into play a possible trade relationship with the United Kingdom since he is known for his anti-Brexit stance.
“I’m talking to [International Trade Secretary] Liz Truss, about trying to work out some kind of a deal … I’m hopeful we can get some kind of an agreement out you know, we don’t have a lot of time left,” said Lighthizer.
“We have the advantage in that both the U.S. and the UK—particularly the current government of the UK—are not big subsidizers, where some other countries are more inclined to subsidize. So it would be helpful if we could come to some kind of agreement,” said Lighthizer.
As Breitbart News pointed out, although a full-blown free trade agreement between the two countries requires congressional approval, President Trump has broad tariff powers, which could lead to an agreement in which both countries reduce their tariffs.
The United Kingdom left the European Union a year ago, but remained in the economic bloc during the transition process that concludes on Dec. 31, according to Fox News.
The BBC indicate that the agreement, reached after long months of negotiations, provides the United Kingdom with duty-free or quota-free trade in goods, which should help protect the $894 billion in annual trade between the two parties and the hundreds of thousands of jobs that depend on it.