Trade Agreements with the Uk

Trade Agreements with the Uk

As the United Kingdom (UK) has officially left the European Union (EU), it is now free to forge trade agreements with other countries. Countries that already have trade agreements with the EU will need to renegotiate those deals with the UK if they want to continue trading with them. As such, there has been a lot of talk about trade agreements that the UK could potentially make with other countries.

One of the most talked-about trade agreements is with the United States (US). President Donald Trump has been vocal about his support for a trade deal with the UK, and both countries have expressed interest in pursuing such a deal. However, negotiations will likely take some time and there are several issues that will need to be addressed, such as agriculture (particularly the import of chlorinated chicken into the UK) and the National Health Service (NHS).

Another country that the UK could potentially make a trade deal with is Australia. Australia is a member of the Commonwealth and the UK has historically had close ties with the country. Negotiations between the two countries have already begun, with both sides expressing a desire for a quick deal. The focus of the deal will likely be on agriculture, with the UK seeking to open up the Australian market for its beef and lamb exports.

Japan is another country that the UK could look to make a trade deal with. Japan is the world`s third-largest economy and already has a trade deal with the EU. The UK and Japan have expressed interest in a deal, but again negotiations will take time. The focus of the deal will likely be on the automotive industry, as Japan is a major producer of cars and the UK is home to several car manufacturing plants.

Finally, the UK could also look to make a trade deal with the EU itself. While negotiations for a trade deal between the two sides have been ongoing, there are still many issues that need to be resolved (such as fishing rights and dispute resolution). If a deal can be reached, it would be beneficial for both sides, as the UK is a major trading partner for the EU and vice versa.

In conclusion, there are many potential trade agreements that the UK could make in the wake of Brexit. These agreements could help to open up new markets for UK exports and ensure that the country remains economically competitive in the years to come. However, negotiations will likely take time and there are many issues that need to be addressed. It remains to be seen which countries the UK will ultimately form trade agreements with, but one thing is certain: the country`s future prosperity depends on its ability to navigate the complex world of international trade.