The news agency writes that it is unlikely that the United States and the United Kingdom will succeed in reaching a trade agreement before 2023 Bloomberg Saturday based on insiders. US President Joe Biden believes that investments in its economy and the difficult relationship with China now have a greater priority.
The delay will be a major cause for British Prime Minister Boris Johnson. His vision for the United Kingdom after Brexit focused largely on a closer relationship with the United States. He repeatedly emphasized that the British economy would thrive as an internationally oriented trading nation that strengthens transatlantic ties.
Aside from a trade deal with Japan, Johnson has yet to reach large-scale trade agreements with other countries. Nevertheless, more than sixty commercial relations that the British had previously continued with the so-called third countries continued through the European Union.
Thanks to a previously passed law, Biden has the opportunity to speed up international trade agreements through Congress until July 1, 2021. This special power is unlikely to be renewed, as this is highly controversial in light of the 2022 midterm congressional elections. A source from government departments reports Bloomberg The Biden government does not intend to use the remaining time to deal with the United Kingdom.
The UK Department for International Trade now reports that a good trade deal is more important than a quick one. A spokesman said: “The United Kingdom has always made it clear that a broad and mutually beneficial agreement is more important than a deal before a predetermined deadline.”