{"id":109015,"date":"2021-01-21T09:26:46","date_gmt":"2021-01-21T09:26:46","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109015"},"modified":"2021-01-21T09:26:46","modified_gmt":"2021-01-21T09:26:46","slug":"ed-balls-talks-down-uk-us-trade-deal-chances-id-be-very-surprised","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/ed-balls-talks-down-uk-us-trade-deal-chances-id-be-very-surprised\/","title":{"rendered":"Ed Balls talks down UK-US trade deal chances ‘I\u2019d be very surprised’"},"content":{"rendered":"
The former <\/span>Labour <\/span>politician said that Liz Truss, the UK’s International Trade Secretary<\/span>, would struggle to broker a post-Brexit trade agreement with the new White House as securing one is not a top priority for President Joe Biden. Ms Truss <\/span>had previously indicated her intent to sign a <\/span><\/span>trade deal <\/span>with the US this year but <\/span>Mr Balls made clear in his view such a pact would not be forthcoming, especially in the early years of the Biden presidency.<\/p>\n On a potential free trade deal with the US, he told ITV’s Robert Peston:<\/span> “I’d be very surprised if Liz Truss has any chance of negotiating a free trade agreement with America in the next couple of years. <\/span><\/p>\n “It’s not going to be a priority for the Joe Biden presidency… For exactly these complicated bilateral issues.”<\/span><\/p>\n The last round of formal negotiations with the US ended on October 30, 2020.<\/p>\n Following that date, the UK had hoped to secure a series of mini deals with Donald Trump’s administration in order to push forward with a Free Trade Agreement in 2021.<\/p>\n JUST IN: Brexit LIVE: Macron’s banking chief gloats about £151bn asset grab<\/strong><\/p>\n <\/source><\/p>\n We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.<\/p>\n <\/source><\/p>\n On Wednesday, Simon Hoare, chair of the Northern Ireland select committee and North Dorset MP told the <\/span><\/span>Express.co.uk that a trade deal with Mr Biden may not be agreed in 2021. <\/span><\/p>\n Despite the desperate need of a deal with the US, Mr Hoare admitted the “steam has gone out” of plans for an agreement this year.<\/span><\/p>\n He added: “I’m not sure on a trade deal will be agreed this year.<\/p>\n “It does seem quite a bit of the steam has dropped out about the US-UK trade deal talks.”<\/p>\n <\/source><\/p>\n He did, however, add that the relationship between the President-elect and Mr Johnson may spark progress in other initiatives which will be the launchpad to a future treaty.<\/p>\n Mr Hoare said: “A trade is something nice to have.<\/p>\n My view is that we must protect our food and agricultural standards in any deal we do.<\/p>\n “I would’ve thought the two leaders will use the areas of which they agree as the launchpad to progress other initiatives of which a trade deal is one.”<\/p>\n DON’T MISS<\/strong><\/p>\n FURIOUS Sturgeon accuses Tories of ‘spinning’ coronavirus figures [Latest]<\/strong> <\/source><\/p>\n In December, US Trade Representative Robert Lighthizer had claimed talks had progressed and was hopeful of producing a partial agreement before President-elect Joe Biden, was inaugurated.<\/p>\n It was hoped agreements could be made on Scotch whisky and cashmere imports after tariffs on Boeing imports were lifted by the UK.<\/p>\n The UK’s Trade Department made the move to lift tariffs on Boeing aeroplane imports in order to bring the US to the negotiating table.<\/p>\n The tariffs had been in place for 16-years and relate to a dispute between the US and EU over subsidies given out to Boeing and Airbus respectively.<\/p>\nJoe Biden: Simon Coveney discusses approach to China<\/h3>\n
Joe Biden hit by thinly-veiled threat as Michel warns ‘EU won’t wait’ [Update]<\/strong>
EU chief’s threat to lock City out of bloc in response to Brexit plan [Insight]<\/strong><\/p>\n