New UK-US trade deal is remote possibility, says British PM Liz Truss

A UK–US trade deal is a remote possibility in the short to medium term, newly elected British Prime Minister Liz Truss told reporters before her flight to New York for the annual UN- General Assembly meeting.

Prime Minister Truss will meet US president Joe Biden during the General Assembly meeting. The UK PM's statement comes at a time when the previous UK Government assured a post-Brexit deal with the US.

Issues on focus

Instead of discussing measures on improving bilateral trade, there are several other significant points on the agenda, PM Truss said while clarifying the details of her planned talks with President Biden on Wednesday. Global security, dealing with the Russian aggression in Ukraine, and ensuring a quick solution to the war (Russia-Ukraine) are among the critical issues on the agenda of the two world leaders.


Political observers, however, are curious to see whether the US president raises the unresolved issue of the Northern Ireland Protocol. It may be recalled that the Ireland protocol is a topic of debate in the US, with a large population of Irish Diaspora.

Is the UK –US trade deal important?

The easing of trade facilities with the US was one of the great hopes of the UK's post-Brexit export policy. We may add here that the US is Britain's biggest trade partner contributing about 1£ for every 6£ of the country's total trade.



Many in the opposition, however, claim that no fair trade deal with the US is a reason for a considerable loss of business potential and is also affecting the country's economic growth. Moreover, analysts are wondering whether the reluctance to discuss trade relations is from President Biden’s side.

FAQs

What is short-term planning in the context of a country?
A short –term planning in economics is typically considered to be of twelve months or less.

Why is the British opposition focusing on trade with the US?
The previous British government had considered better trade with the US (UK's biggest trade partner) as an essential economic measure to recover quickly from the effects of Brexit.