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If JD Vance puts a positive turn on something … it’s a win.
The US Vice President speaks his mind. He likes the shock factor.
And so his Encourage words about a ‘trade transaction’ with the UK British officials will have pleased here in Washington and in London.
Talk to Unincited, Precaution said: “I think there is a good chance that we, yes, we will come to a good deal that is in the best interests of both countries.”
Behind the scenes, for many weeks – since then long before Donald Trump‘S’ Liberation Day ‘almost two weeks ago – British trade negotiators led by UK’s Ambassador to the USA, Lord mandelsonNegotiate with the US administration as well as possible.
Their involvement with officials close to Mr. Trump has facilitated ministerial meetings and street calls in the White House.
I am told that the UK is now in the transaction space. Another source told me the UK was ‘in the foothills’ of an agreement. But it wasn’t simple, and there’s a little distance to go.
Despite the absence of a trade deficit with the US, and despite the penchant the president has for the UK, Britain still got a 10% tariff plus 25% on cars.
Before Trump’s Liberation Day, there was a hope that the UK would reach a kind of agreement to avoid it. But it was clearly clear that Mr. Trump needs his ‘moment’.
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Trump rates: How the ten days unfolded
Many foreign diplomats, including the British, who negotiated on behalf of their countries, also struggled to achieve substantial negotiations, because even those close to the president were not clear about his views, his choices and where he would “land on issues.
By the way, this is an issue that can be applied to many aspects of this Trump administration. “It’s always very speculative,” one European diplomat told me.
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Trump meets ‘coolest dictator’
The cheat for engagement
The challenge since the Liberation Day was to re -use the White House with the offers that have been set out over the past few months. Many countries did. You can imagine the crackle for engagement.
A key question is whether the baseline rate of 10% (applied to Britain – and now for everyone else after the 90 -day break) is negotiable. The language of Mr. Vance seems to be that it is.
Read more:
Smartphones between items excluded from US rates
Challenge that Trump’s rates have ‘didn’t go away’, Premier says
Sir Keir, Mr Trump and JD Vance in the Oval Office in February. Photo: Reuters
An agreement between the UK and the US could be “in the foothills”. Take care for an agreement with Australia too soon.
But calling it a ‘trade transaction’ with the UK would be misleading. It is an ‘economic agreement’ to lower the rates. However, this is a big step forward for the UK, which has been trying to engage closer trading alignment since Brexit.
Questions remaining
The details of any agreement will be fascinating, and this is where the controversy will be. Will the UK reduce its trade barriers on US vehicles? Will it affect British traffic safety standards?
Will the UK make it easier for US farmers to sell in the UK? And if so, what will struggling British farmers make of this? Will the British food standards (currently in line with the EU) be lowered?
The desired ‘landing zone’ here for the UK would be improved market access for US farmers, but only in areas where the US complies with British standards.
Also look for a digital services agreement. At present, the UK tax has hit US technical companies here.
So we are in the foothills, but there is still a climb and on an unpredictable, unpredictable path.
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