US & UK in talks over a partial trade deal, could take effect on Nov. 1st

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US & UK in talks over a partial trade deal, could take effect on Nov. 1st

On Tuesday, the 13th of August 2019, a senior official of White House said that the United States and United Kingdom had been in an advanced stage talk to reach a partial trade agreement which would likely to take effect by November 1st, a day after Britain is scheduled to divorce European Union, at a deal or without a deal.

Aside from that, the White House official had added that the visiting US national security adviser, John Bolton and UK Commerce Minister, Liz Truss, had also discussed whether the leaders of two countries could sign a landmark declaration of a trade deal over this month’s G7 summit, scheduled to be taken place in France.

More critically, while British investors and businesses were bracing for a sharp downturn in profits amid higher tariffs and labor costs following a likely no-deal or Canada-plus type Brexit, US National Security Adviser, Bolton and UK Finance Minister, Sajid Javid, had discussed the possibilities of a temporary trade agreement which could last as long as six months aimed at proffering a breathing space to a bottlenecked business environment in Britain.

In point of fact, over his two-day visit to Britain, at a meet with UK’s new leader, Boris Johnson, who passed most of his childhood in New York, United States, Bolton said that the US President Donald Trump wanted a successful exit of United Kingdom from EU by October 31st and followed by a Brexit, Washington would be all-prepared to sketch out a new UK-US free trade treaty.