US mini trade deal with the UK will see a drop on tariffs come 1st January.
It’s been confirmed that US President Trump is getting a trade deal together with the UK. The mini trade deal will see tariffs drop from 1st January onwards.
Our Mexico agreement means we have now agreed trade deals with 58 countries around the world, covering trade worth £198bn 🇬🇧 🌎
— Liz Truss (@trussliz) December 16, 2020
No other country has ever negotiated or secured so many trade deals simultaneously. Great job by #teamtrade 👇
Trade = growth = jobs#GlobalBritain pic.twitter.com/6b2yZQkcAU
Over the last few years, Scotch whiskey has been hit by hard due to a row between the EU and US over trade tariffs. It’s reported the Scotch whiskey industry took a hit of over £400 million in lost trade with the US due to the stand off.
This deal with the US will massively boost trade between the two sides. Mr Lighthizer told the BBC: “I’m talking to International Trade Secretary Liz Truss, about trying to work out some kind of a deal.
“I’m hopeful we can get some kind of an agreement but, you know, we don’t have a lot of time left.
“So it would be helpful if we could come to some kind of agreement.”
If the mini trade deal get signed before the end of the year, trade talks will continue into the new year.