The United States is open to signing "sector-by-sector" micro trade deals with Britain as the October 31 Brexit deadline looms, offering to the British economy a much-needed cushion from the worst impacts of a potential no-deal Brexit, according to National Security Advisor John Bolton on Wednesday.
"The ultimate end result is a comprehensive trade agreement covering all trading goods and services," Bolton said, according to The Guardian. "But to get to that you could do it sector by-sector, and you can do it in a modular fashion. In other words, you can carve out some areas where it might be possible to reach a bilateral agreement very quickly, very straightforwardly."
In particular, Bolton noted that he is optimistic that Britain and the United States can sign a trade agreement in areas like manufacturing, a key sector for the Trump administration. He did note, however, that deals in other sectors like finance might take some time.
Bolton's prioritization of a U.S.-Britain trade deal gave hope to Brexiters, who hope to make substantial inroads with the U.S. prior to the Brexit deadline. The British economy has already contracted for the first time since 2012, and some critics believe that a no-deal Brexit — which the prime minister has not ruled out — could severely disrupt the economy.
In a move encouraging for Johnson and other committed Brexiters, the national security advisor emphasized that Britain is "constantly at the front of the trade queue" for a trade deal with the United States, directly refuting President Barack Obama's 2016 comment that Britain will have to go to the "back of the cue" for a U.S. trade deal — a remark then widely criticized by the British public.
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11.28.2024