UK considering individual deals with US states

The United Kingdom, which has not progressed on a post-Brexit trade treaty with the United States, is now looking to enter into individual agreements with 20 US states, which, however, will not be binding. Four MoUs or Economic Partnerships can be unveiled.over the next two months, before things really pick up pace“, assured the Secretary of State for Foreign Trade Penny Mordant, in an interview with the British newspaper The Times.

,We need to do this across the United StatesHe added, however, acknowledging that such agreements would not be legally binding, nor would they reduce tariffs like a free trade treaty with the federal government would.

Since the United Kingdom’s exit from the European Union, which became effective on January 1, 2021, London has been negotiating all agreements to boost its international trade, and in particular its relations with the United States. To win for Washington’s Promise Hour, without being able to consolidate. While Donald Trump’s administration was ready to strike a bilateral deal with London and even hold a series of talks, the Biden administration scuttled the process and was in no hurry to restart it. Seems, in spite of a series “transatlantic talksbetween the two countries.

London indicated late last year that it wanted to deepen its commercial ties directly with US states, particularly in the areas of services, digital or agriculture, and Penny Mordant has held several meetings with officials. The British executive specifically cited California, whose GDP “was over $3000 billion in 2020, equivalent to the 5th world economy,

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Since Brexit, the United Kingdom has entered into a trade agreement with the European Union, with European countries that are not members of the European Union (Norway, Iceland, Liechtenstein), but also with more distant countries such as Australia and New Zealand. . But the benefits of these agreements have yet to be proven, with a parliamentary report last month saying the British government should help SMEs export more.

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About the Author: Forrest Morton

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