UK representatives are expected to lobby their US equivalents to resume talks when Biden visits Northern Ireland next week. UK Secretary of State for Business, Energy and Industrial Strategy Kemi Badenoch is leading the way in reaching the trade deal.
But what exactly should this agreement satisfy? Prime Minister Rishi Sunak’s government says it will be a deal his Conservative Party has long argued is one of the biggest benefits of leaving the European Union. There were talks under the reign of former President Donald Trump, but they bled to death under Biden.
Road map
The UK wants to draw up a road map for the multi-stage deal. The first step would be a formal deal that mostly covers topics that were actually all but approved under Trump, such as creating more opportunities for small and medium-sized businesses.
Subsequently, negotiations would take place on unresolved issues that have nothing to do with market access. Such access is saved for the last step, perhaps the most difficult. The question of market access and the reduction of taxes on goods promises to be politically and technically very difficult.
Also, the UK wants to negotiate better terms for local businesses, as they could be adversely affected by the recently introduced Inflation Reduction Act.