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·         U.S. Working on Trade Deal with United Kingdom

·         UK seeks big tariff reductions in U.S. trade deal

 

 

U.S. Working on Trade Deal with United Kingdom

 

Radio 570 WNAX (SD)

Feb 5,2020

 

The Trump administration has been having discussions with the United Kingdom on a possible trade deal, once Brexit is finalized. The most recent meeting has been between Secretary of State Mike Pompeo and the U.K. National Cattlemen’s Beef Association’s Director of International Trade and Market Access Kent Bacus says there’s great opportunity for trade with the U.K. but it will take time.

 

He says for trade talks to succeed, the U.S. will have to educate United Kingdom’s consumers on the quality and safety of U.S. beef.

 

Secretary of State Mike Pompeo voiced concerns about the British being protectionist when it comes to trade. Bacus says the U.S. has had success with other trade pacts in overcoming that protectionism.

 

Bacus says...

 

more, including audio [1:37 min.] 

https://wnax.com/news/180081-u-s-working-on-trade-deal-with-united-kingdom/

 

 

UK seeks big tariff reductions in U.S. trade deal

 

Kylie MacLellan & William James, Reuters

Feb 6, 2020

 

LONDON (Reuters) - Britain is seeking far-reaching reductions in tariffs from a trade deal with the United States, trade minister Liz Truss said on Thursday, setting out the broad aims of a post-Brexit push to secure new free-trade agreements.

 

Britain plans to begin negotiating deals with the United States, Japan, Australia and New Zealand in the coming months, alongside talks on an agreement over its future relationship with the European Union.

 

“We will drive a hard bargain and, as with all negotiations, we will be prepared to walk away if that is in the national interest,” Truss said in a statement to parliament.

 

She said Britain wanted a deal with the United States to “secure comprehensive, far-reaching and mutually beneficial tariff reductions ... which will increase access to the US market for UK businesses, and lower prices and increase choice for UK consumers.”

 

The United States is Britain’s biggest trading partner after the EU, accounting for nearly 19% of all its exports in 2018 and 11% of imports. Both sides hope a deal can be reached as soon as this year but there are many hurdles.

 

The U.S. negotiating objectives published last year include seeking a removal of non-tariff barriers such as restrictions on chlorine-washed chicken and hormone-treated meat.

 

It is also pressing for full market access for U.S. pharmaceutical products and medical devices, which would require changes to Britain’s National Health Service (NHS) pricing restrictions and could increase the cost of drugs.

 

Truss said Britain would not compromise on its high animal welfare and food standards and the price the NHS pays for drugs will not be on the table in trade talks.

 

Britain also said it planned to develop a new “most favored nation” tariff regime which will enter into force at the start of 2021 and will apply to goods from countries around the world where no other trade arrangements are in place.

 

It has launched a four-week consultation on the UK Global Tariff, which will replace the EU’s Common External Tariff. This could include...

 

more

https://www.reuters.com/article/us-britain-eu-trade/uk-seeks-big-tariff-reductions-in-u-s-trade-deal-idUSKBN2001BB