The UK is “not the focus” of possible US tariffs following Donald Trump’s win in the presidential elections, according to a trade specialist speaking with Sky News.
Duncan Edwards, the CEO of BritishAmerican Business, remarked that Mr. Trump‘s comeback to the White House might also invite renewed discussions on free trade agreements with the US.
Negotiations halted under Joe Biden because of the incumbent president’s worries regarding Northern Ireland and the legality of regulations established post-Brexit.
President-elect Trump has often voiced his endorsement for trade tariffs.
He stated these could boost revenue and promote domestic US trade instead of depending on global markets.
“The first point to make is that the UK is not the target,” Mr. Edwards conveyed.
“There will be a chance for the UK to re-engage in trade discussions as they did four years prior.
“Let’s observe whether they are pragmatic and nimble in their process… there’s a potential for an agreement.”
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What are ‘Trumponomics’?
Mr. Trump has intentions to implement the highest tariffs on Chinese imports.
Before winning the election on 5 November, he asserted that he would elevate tariffs on Chinese products to 60% and impose a “universal” tax of at least 10% on imports from other nations.
A Democratic governor in the US, Phil Murphy of New Jersey, expresses belief that Mr. Trump will refrain from imposing tariffs on the UK.
In a discussion on Sunday Morning with Trevor Phillips on Sky News, Treasury Minister Darren Jones indicated that the UK is assessing “various scenarios”.
He mentioned that his government’s stance is to “uphold free trade” – encompassing trade relations with both the US and the UK.
Mr. Jones affirmed: “It’s a highly robust and profitable relationship, advantageous for us as well as the American economy, and we aim to safeguard and enhance that in the future.”
He continued: “I believe President-elect Trump has acknowledged that.
“He understands the significance of the relationship that the US holds with the UK, which will be the foundation for our cooperation in the upcoming years.”
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Numerous rounds of free trade talks occurred between the UK and the US during the previous Trump administration.
However, with President Biden withdrawing support for such an agreement, the UK has since entered into agreements with several states, such as Texas and Florida.
Discussions regarding a trade agreement with the US might evoke concerns about issues like “chlorinated chicken” being accepted in the UK.
Mr. Edwards suggested that, given Mr. Trump’s substantial backing in agricultural regions, any agreement would likely require allowing US food products into the UK and vice versa.
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“That’s where the political challenge will lie,” he remarked—insisting that US food is safe.
He elaborated that chlorinated chicken was merely “a reference point,” and that the disparity in food standards does “not pose a safety concern” while potentially reducing grocery prices.
