UK and US Sign Deal on 'Post-Brexit' Trade, Plans Massive Free Trade Agreement
New agreement will ensure Britain and America's trade is protected
The United States and the United Kingdom have signed a Mutual Recognition Agreement which will secure British-American trade carries on following Brexit, according to reports.
The new agreement will bypass pro-EU loyalists who claimed that trade would be damaged.
The United States is the UK's largest single trade partner and number one source of inward investment, mostly on World Trade Organization (WTO) terms, so in a supposed “No Deal” situation with the EU, the UK would be protected.
Various mini-agreements like regulatory standards strengthen the WTO-based relationship.
But EU authorities claimed that Brexit would negatively affect the British-American commerce.
The British ambassador to the United States, Sir Kim Darroch, and Deputy United States Trade Representative C.J. Mahoney signed the Mutual Recognition Agreement on Conformity Assessment (MRA) in Washington D.C on February 14th which will ensure trade relationships are unaffected.
“The UK and the U.S. are the strongest of trading partners, and this agreement will allow British and American businesses to keep trading as freely as they do today, without additional bureaucracy,” noted Dr. Liam Fox, Britain’s Brexit-supporting Secretary of State for International Trade.
“Our top priority is ensuring continuity for businesses as we leave the European Union and we are signing other agreements in the days and weeks ahead.
We look forward to sitting down at the negotiating table with the Americans after we leave the European Union to strike an ambitious new free trade agreement,” he added.
“[W]e’re determined that U.S.-UK trade will continue to flourish,” added Woody Johnson, U.S. ambassador to the Court of St James’s, having previously penned a Valentine’s Day poem to the United Kingdom reading:
According to Breitbart: While former U.S. President Barack Obama and his would-be successor both suggested Britain would be sent to “the back of the queue” for a trade deal if it left the European Union — allegedly at the behest of former prime minister David Cameron.
But current U.S. President Donald Trump is keen to put the mother country at “the front of the line” and strike a “powerful” new deal as soon as possible.
The future partnership with the EU which the Remainer-dominated British political establishment appears to be pursuing may make this impossible, however, as it would see the EU retain effective control over British trade policy through the imposition of various onerous obligations concerning customs and maintaining a “level playing field” economically.
Yesterday the Governor of the Bank of England Mark Carney said that the UK's departure from the European Union could “broaden the benefits of openness” and enhance “democratic accountability.”
The banking chief laid out a somewhat positive vision of global free trade and e-commerce following Brexit.“
In many respects, Brexit is the first test of a new global order and could prove the acid test of whether a way can be found to broaden the benefits of openness while enhancing democratic accountability,” Mr. Carney said.