Sunak greets Biden as he arrives on Downing Street
Joe Biden has shelved plans for a trade deal with the UK as the 2024 presidential elections looms closer.
Plans for a “foundational” trade agreement with the UK ahead of next year's national polls comes after Senate opposition and disagreements over the scope of the deal.
Negotiations were indicated to begin in a draft of 11 proposed chapters, prepared by the United States Trade Representative’s (USTR) office earlier this year.
Talks were intended to end in the spring ahead of both countries heading to the polls.
But now the deal is not expected to go ahead, two people briefed by the British and US governments have said.
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Joe Biden has quietly shelved the prospect of a trade deal with the UK (Image: GETTY)
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“I don't think we're going to see that re-emerge,” one person familiar with the matter told Politico.
According to the Commons Library, negotiations for a US-UK trade deal started in May 2020 but there have been no talks since October 2020.
The prospect of a trade agreement between the UK and US has long been a major desire of successive Conservative Prime Minister's since the UK voted to exit the EU in 2016.
New negotiations were set to span a variety of topics, including agriculture ,labour rights, the environment, supply chains, regulation of services, digital trade documents and others.
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Biden and Sunak were in talks to agree a trade deal before next year's elections (Image: Getty)
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The proposal outlined that talks would be complete before elections in the UK and USA in 2024.
However, the proposal did not go as far as considering market access, nor would it meet the World Trade Organization’s (WTO) definition of a free trade agreement.
US politicians have expressed concern about the nature of any potential deal with the UK.
A spokesperson for Democratic Senator Ron Wyden, chairman of the powerful Senate Finance Committee, said: “Trade negotiations should be driven by substance.
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“It is Senator Wyden’s view that the United States and United Kingdom should not make announcements until a deal that benefits Americans is achievable."
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A more positive view for a potential framework being decided by the spring was taken by the UK government earlier this year.
“The UK and US are rapidly expanding the work we do together across the full spectrum of our economic, technological, commercial and trade relations through the Atlantic Declaration,” a Department for Business and Trade spokesperson told Politico.
“Discussions with the US on next steps under this first-of-its-kind agreement are ongoing.”
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