{"id":119536,"date":"2023-10-03T21:34:08","date_gmt":"2023-10-03T21:34:08","guid":{"rendered":"https:\/\/yourclomid.com\/?p=119536"},"modified":"2023-10-03T21:34:08","modified_gmt":"2023-10-03T21:34:08","slug":"rishi-sunak-and-joe-biden-seek-trade-deal-before-2024-elections-in-major-win","status":"publish","type":"post","link":"https:\/\/yourclomid.com\/politics\/rishi-sunak-and-joe-biden-seek-trade-deal-before-2024-elections-in-major-win\/","title":{"rendered":"Rishi Sunak and Joe Biden seek trade deal before 2024 elections in major win"},"content":{"rendered":"

<\/p>\n

Rishi Sunak and Joe Biden are drawing up a “foundational” post-Brexit UK-US trade deal that could be sealed before both leaders face re-election in 2024.<\/p>\n

A fresh round of talks are set to begin later this month, with the early part of the agreement designed to be finalised by spring 2024.<\/p>\n

This is according to a report from Politico, citing a leaked draft plan prepared by the US Trade Representative\u2019s (USTR) office at the end of August.<\/p>\n

However, the outline deal set out in these papers does not reportedly include the market access commitments required for a formal free trade agreement that would be in line with the views of the World Trade Organization.<\/p>\n

But regardless, it would be a massive step forward in negotiations between the two global superpowers.<\/p>\n

READ MORE: <\/strong> Tory politician removed after heckling Suella Braverman during conference speech<\/strong><\/p>\n

<\/p>\n

A person familiar with the discussions told Politico: “We\u2019re discussing and considering a range of things, but all is very much in early stages and nothing has been finalized yet.”<\/p>\n

The initiative has been tentatively dubbed the US-UK Trade Partnership Forum (TPF).<\/p>\n

It will aim to “negotiate a new, foundational trade agreement to create a permanent mechanism to coordinate and cooperate on trade policy issues of mutual interest and to further deepen existing trade ties” between the two countries.<\/p>\n

There could however be stumbling blocks along the way as the Biden administration reportedly wants concessions on agriculture in any deal.<\/p>\n

<\/p>\n

But a UK government official told Politico that the Department for Environment Food and Rural Affairs is “blocking this”.<\/p>\n

US farming practices such as chlorine-washed chicken and hormone-injected beef had become significant sticking points between former leaders Boris Johnson and Donald Trump.<\/p>\n

A British agriculture lobbyist told the publication: “Presumably it won\u2019t include those because it\u2019s been a red line for Rishi Sunak.”<\/p>\n

They warned otherwise, it would be a “major climbdown” for the Prime Minister after he said earlier this year that chlorine-washed chicken and hormone-injected beef would be banned from the British market.<\/p>\n

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Kevin McCarthy tells journalists he wants to talk to Sunak about trade<\/h3>\n

The pact that being discussed between the two sides is modelled on the US-led Indo-Pacific Economic Framework for Prosperity (IPEF), according to a business consultant speaking to Politico.<\/p>\n

They said this would provide “a framework that helps with the alignment of standards and regulations in a coherent way.”<\/p>\n

But the person warned the biggest negative of the pact is there\u2019s “no market access”. This is something the Biden administration is not offering to any trade partners.<\/p>\n

The business consultant also warned the timeline for the initial chapters to be finalised in the pact is tight, adding: Unless you do it that fast, it’s not getting through Congress before both UK and US elections.”<\/p>\n

<\/p>\n

Duncan Edwards, chief executive of BritishAmerican Business, a trans-Atlantic business lobby, believes there is a \u201ca real appetite in the House for a trade agreement with the UK.<\/p>\n

He said: “If an agreement was negotiated, it would definitely get approved in the House, assuming we could solve the problems around agriculture.”<\/p>\n

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Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Rishi Sunak and Joe Biden are drawing up a “foundational” post-Brexit UK-US trade deal that could be sealed before both leaders face re-election in 2024. 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