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Joe Biden REFUSES to sign new trade deal with Britain amid UK’s last minute Brexit push

The Government had hoped an agreement with America, the world’s biggest economy, would demonstrate the benefits of Britain having an…

By admin , in USA , at December 3, 2020 Tags: ,

The Government had hoped an agreement with America, the world’s biggest economy, would demonstrate the benefits of Britain having an independent trade policy outside the EU. However speaking to the New York Times Mr Biden warned: “I’m not going to enter any new trade agreement with anybody until we have made major investments here at home and in education.”

The incoming president added he plans to “fight like hell by investing in America first”.

He named artificial intelligence, biotech and energy as sectors which could receive massive US government investment.

Mr Johnson had been hoping to secure a new US trade deal with Donald Trump, a fervent admirer of Brexit.

However Mr Trump’s defeat in last month’s presidential election means the Prime Minister will soon be dealing with a new administration.

Formally the UK Government cannot begin talks with Mr Biden’s team until he is inaugurated as president in January.

However according to The Guardian informal approaches have been made to key Democratic Party senators.

Britain is currently attempting to negotiate a new trade deal with the European Union.

The Brexit transition period, during which the UK will remain in the European single market, comes to a close at the end of this year.

However during this time Britain has still been contributing to the EU budget, and accepting Brussels regulations in a range of policy areas.

Talks between the UK and EU have become bogged down over European access to British fishing waters and how far Britain can deviate from EU ‘level playing field’ regulations.

If no agreement is reached trade from the beginning of next year will take place under World Trade Organisation (WTO) rules, meaning significant tariffs on the trade of many products.

On Wednesday Michel Barnier, the EU’s chief negotiator, insisted the UK had lowered its demands on fishing from 80 percent of those in British waters to 60 percent.

He was responding to European concerns the EU is making too many concessions to the UK over the issue.

Speaking to The Telegraph an EU source said: “Some member states are becoming a bit jittery, so this was mostly an exercise to calm nerves in Paris and elsewhere and to reassure member states that team Barnier will continue to defend core EU interests, including on fisheries.”

However referring to Mr Barnier’s comments a second added: “If his intention was to reassure the ambassadors, he didn’t succeed.

“Whatever he brings back to Brussels will be scrutinised very heavily.”

Mr Biden also used his interview with the New York Times to announced he isn’t planning to lift any tariffs on China.

He added: “The best China strategy, I think, is one which gets every one of our – or at least what used to be our – allies on the same page.

“It’s going to be a major priority for me in the opening weeks of my presidency to try to get us back on the same page with our allies.”

Tensions between the US and Beijing soured over a number of issues, including trade, under President Trump.

Mr Biden indicated he hopes to resurrect the Iran nuclear deal, with Mr Trump withdrew the US from in 2018.

He warned if this doesn’t happen Egypt, Saudi Arabia and Turkey will feel under pressure to begin nuclear weapons programmes.

The incoming president added: “The last goddamn thing we need in that part of the world is a buildup of nuclear capability.”