Excerpt from an article in the UK Farmers Guardian quoting DTB AgriTrade partner Steve Sothmann.
[Sothmann] said: “A UK accession to the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) and the hope that the US returns to that venue sometime in the future is probably the most viable path forward for deeper economic integration between the two countries under a Biden 2.0 scenario, but even that is a long shot.”
Should Donald Trump win in the November election, it is harder to predict what that will mean for Labour leadership.
In his first term Mr Trump was in favour of a comprehensive free trade agreement but talks stalled even with a UK Conservative Government.
“The US Congress has largely soured on free trade especially among House Republicans. It is likely even harder with a Labour government.
“Further, Trump’s campaign rhetoric around trade portends the potential for the injection of chaos Labour will have to manage. Ideas floated like a 10% tariff on all imports, 60% on China, and others may put the UK in a better position than most to handle such chaos on a bilateral basis, but there will certainly be some economic pain inflicted along the way,” said Sothmann.
Read the full article, “American perspective on Labour’s win – what does it mean for ag” by John Wilkes, on Farmers Guardian.
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