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US and UK trade deal plans after Brexit

By July 15, 2016 No Comments

The United States has initiated preliminary discussions with United Kingdom Officials about the interest of stablishing a Trade Agreement between the two countries, following the United Kingdom exit from the European Union.

Although the Obama administration declared that if UK voted to leave European Union the United States would not rush to establish a trade agreement with the country, it seems that the growing Republican pressure in Washington changed the US perception on the subject.

Whilst the UK remains a member of the EU and cannot negotiate separately from the block, Mr. Mike Froman, US Trade Representative, stated that British Officials are already seeking for discussions with other trading partners.

The shape of an agreement between two important trading partners, the US and the UK, remains uncertain, especially since it would be outlined according to the real conditions – and not speculations – of the British Exit from the EU and its permanence (or not) in the EU Free Trade Area.

According to Mr. Froman, the UK represents 25% of the US exports to the European Union, being a vital commercial partner for the country and a very significant part of the attractiveness of  the Trans-Atlantic Trade and Investment Partnership (TTIP) to the United States. Therefore, the unfolding of this story might have a meaningful impact on the US trade, presenting an opportunity for the country to enhance its relationship with an important partner on a moment of vulnerability.

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