President of the United States of America, Donald J. Trump, tweeted that he is working on a major trade deal with the United Kingdom. He also tweeted that because of a bilateral trade agreement with the UK, there could be a very high chance of big and exciting possibilities for jobs after the UK leaves the European Union in 2019.
Working on major Trade Deal with the United Kingdom. Could be very big & exciting. JOBS! The E.U. is very protectionist with the U.S. STOP!
— Donald J. Trump (@realDonaldTrump) July 25, 2017
— President Trump (@POTUS) July 25, 2017
This is supportive of his campaign agenda when he ran for the presidency. Trump had supported the notion of Brexit and also accused the European Union of taking a protectionist stance to the United States of America. Trump, in return, has been accused of being a protectionist rhetoric by his political opponents.
American officials are meeting with their British counterparts this week. According to a tweet by the office of the President of the United States of America, the office of the US Trade Representative and UK’s International Trade Secretary, Liam Fox, met on the 25th of July, to begin a new chapter of the alliance between the two countries for a stronger trade treaty.
Liam Fox is in Washington DC to discuss potential trade deals but no deal could be signed before the UK withdraws from the European Union in March 2019.
Trump said that he would like the deal to be signed as soon as possible although free trade agreements take years to reach a conclusion as they have to be approved by Congress, involving hard negotiations over tariff and non-tariff barriers in areas such as agriculture and automotive industries.
Current trade between the two countries already totals about $200 billion. Liam Fox is in Washington DC to discuss issues involving the continuation of existing trade and investment accords. He met with members of the Congress to assure foreign investors ahead of Brexit and also to ensure expanding of the volume and value of trade between the UK and the USA.