Former International Trade Secretary Liz Truss is still involved in Britain’s free trade negotiations as Foreign Secretary and has not disappeared for some time. Since leaving the bloc, Britain has signed several post-Brexit bilateral fiscal agreements and free trade agreements with strategic countries.
Earlier this year, the long-awaited trade agreement was signed between the UK and New Zealand to remove trade barriers on a huge range of UK goods and services.
Just this week, the US agreed to simplify steep tariffs on UK steel and aluminum products – to circumvent the Donald Trump-era disputes.
President Trump has introduced a 25 per cent levy on UK steel and a 10 per cent levy on aluminum products.
Four individual trade agreements are currently in the discussion stage, according to GOV.UK.
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Greenland
Lovers of fish and chips could be expected to benefit from cut sea rates, as the UK and Greenland are currently in talks.
Negotiations for a trade agreement were launched in January this year.
At the time, Secretary of State for International Trade Anne-Marie Trevelyan said: “A deal with Greenland will be a boost to our fish and sea processing sector – a key industry for Yorkshire and Scotland.”
“Greenland also has a vital geostrategic location in the Arctic, and as such I look forward to bringing our two countries closer together.”
India
The UK does not currently have a trade agreement with India – but it is hoped that this will become a reality in the near future.
Negotiations between the powers began on 17 January 2022.
What other trading deals are on the cards?
According to the Commons Library, the UK Government has started trade agreement negotiations with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Joining the partnership would create dealerships with Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Talks are expected to conclude by the end of 2022.
Negotiations for a deal with the US started in May 2020 – but a deal is not expected any time soon.
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