Joe Biden has postponed plans for a pact with the United Kingdom that could pave the way for a full trade agreement after Brexit. This was reported by UNN with reference to Politico.
Details
It is noted that Biden decided not to push for a "foundational" agreement, which would have included negotiations on 11 areas of trade and regulation after opposition from his own party in the Senate.
Negotiations were supposed to begin by the end of 2023, but US Democrats opposed them. Representatives of Biden's party argued in the Senate that the agreement does not sufficiently protect American workers.
From its own sources, the publication learned that the atmosphere in the British government was quite tough on the part of the Biden administration, which, in turn, was under pressure from the Democrats. It is noted that the latter are concerned about US manufacturing and agriculture.
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The "foundational" agreement drafted by U.S. officials was considered a "roadmap" to a full free trade area.
The UK's hopes for a free trade agreement (FTA) with the US had been raised even before the Brexit referendum, but Obama told voters that the UK would be "at the back of the queue" for a deal if it left the EU.
Subsequently, in the first years of Trump's presidency, there was a high level of support for the FTA in the United States, but today, according to the publication, the chances of an agreement "have fallen to zero."
Recall
The US and Taiwan reach agreement on the first part of their 21st Century Trade Initiative, which covers customs and border procedures, regulatory practices, and small businesses
