From the Telegraph via Yahoo Finance, December 18:
Joe Biden has shelved plans for a pact with Britain that could have paved the way for a full post-Brexit trade deal.
The US president has decided not to move forward with a “foundational” agreement prepared by the US Trade Representative’s Office, which would have included negotiations over 11 areas of trade and regulation, following opposition from his party in the Senate.
Senate Democrats argued that the agreement would not have provided sufficient protection for American workers, Politico reported.
The UK’s hopes for a free trade agreement (FTA) with the US date from before the Brexit referendum, and faced an early setback when Barack Obama told voters that Britain would go to “the back of the queue” for a deal if it left the EU.
But despite US support for an FTA in the early days of Donald Trump’s presidency in 2016, the chance of a deal has now fallen to “zero” under Mr Biden, the Government believes.
The “foundational” deal was thought to be a roadmap to a full FTA, and could have been agreed in negotiations starting at the end this year. The prospect was discussed “in the margins” of talks on the Atlantic Declaration, an economic partnership statement released in June, but has since foundered, insiders said....
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