US Trade Deal With Britain Not Easy: CNN

As the United Kingdom struggles to exit the European Union, its leaders hope for new trade partners. Visiting Britain, US President Donald Trump expressed desire for a bilateral deal. The United States accounts for 14.7 percent of total UK trade in goods and services, while the European Union represents 49.4 percent. “Britain can't open negotiations with potential partners until after it leaves the European Union, but the country's plans for Brexit are in tatters and May is about to stand down,” reports Julia Horowitz for CNN. “Once formal discussions on a US-UK trade deal can start, they're likely to last years and could be doomed by a thorny set of political issues.” The two countries already share cross-border investments of about $1 trillion, with industries like financial services and pharmaceuticals in direct competition. The United States would likely demand reduced regulations for agricultural and other products while Britain’s National Health Service would resist any US demands for privatization. Reducing environmental regulations would push Britain away from the EU, leading to increased checks at the Irish border. British negotiators are more desperate for a deal than their US counterparts. Trump’s negotiations with China and Mexico have revealed a rash and uncompromising style. – YaleGlobal

US Trade Deal With Britain Not Easy: CNN

The EU accounts for half of UK trade in goods and services; with Brexit, Britain must decide if its trade philosophy is a better fit with the EU or the US
Julia Horowitz,
Wednesday, June 5, 2019

Read the article from CNN about the complications of a US-UK trade deal.

Julia Horowitz is a senior writer. She leads CNN Business international coverage of global markets and business and is based in London.

2018 US, UK, EU GDPs

(Source: IMF)

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