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Tower Bridge in London: trade deal with the US is unrealistic after Biden election
Photo: Alberto Pezzali / AP
There are talks between the governments in London and Washington about a free trade agreement - but a British trade expert does not expect a conclusion for the time being.
The negotiations were not a priority for the government of the new US President Joe Biden, said Emanuel Adam from the American-British Chamber of Commerce in London.
"It is difficult to see any movement on this subject anytime soon."
Adam gave several reasons for this: Biden's international trade policy builds on that of his predecessor Donald Trump and aims to eliminate the perceived imbalance at the expense of the USA. Tariffs are a means of doing this. There is also the critical view of the US Congress on the policy of the British government in the dispute over Brexit special rules for the British province of Northern Ireland with the EU.
One of the main arguments of the Brexit advocates was the ability to conclude trade agreements independently. After leaving the European Union, Great Britain had lifted the EU punitive tariffs on many US products as a gesture of peace to the USA. The government in Washington then temporarily suspended additional levies on, for example, Scottish whiskey, knitwear and cheese and pork products. However, talks between the two countries about an agreement stalled.
The question now is what position the British government is taking, said Adam.
There is a discrepancy between the cautious statements made by top politicians and the need to build up your own trade network with the US as the central anchor.
"How is the British government going to explain that the free trade agreement with the US has faded into the background?" Said Adam.
The Chamber of Commerce has always followed the negotiations realistically, said the expert.
"We're disappointed, of course, that the talks didn't go through, especially after all the good work that was done," Adam said.
"But we understand that we still have to create a better basis for the success of these talks." This is what the Chamber will now focus on.
fdi / dpa