US Offers UK Quick Trade Deal

US Offers UK Quick Trade Deal

Written by: PaxForex analytics dept - Tuesday, 13 August 2019 0 comments

The US offered the UK a quick sector-by-sector trade deal after a no-deal Brexit is complete. This will help cushion any negative impacts of the transition period which the majority of economists predict as chaotic. UK Prime Minster Boris Johnson stated time and again that the UK will be fully prepared for a no-deal Brexit and has instructed civil servants to prepare the public in order to have a smooth exit from the EU without the negative deal his predecessor Theresa May negotiated. PM Johnson has promised to deliver on the Brexit referendum and take the UK out of the EU by October 31st 2019.

Yesterday, US National Security Advisor John Bolton met with UK Prime Minister Johnson. The main purpose of his visit was to convey a message of support for Brexit by US President Trump. Bolton stated “The main purpose of this visit, really, is to convey President Trump’s desire to see a successful exit from the EU for the UK on October 31st. To offer to be involved in any way that we can and to express his hope that we can have a fully comprehensive bilateral trade agreement with the UK as soon as possible.” This will further speed up any disruptions to the UK after a no-deal divorce from the EU. Some analysts now believe that the Remainers, those who pushed to remain in the EU, have now lost their battle to prevent a soft Brexit which would have tied the UK to the EU and make a trade deal with the US impossible.