sunny.png
Friday August 23rd, 2019 11:50AM

Bolton's UK trade-deal promise leaves questions unanswered

By The Associated Press
Related Articles
  Contact Editor

LONDON (AP) — British Prime Minister Boris Johnson said Tuesday that getting a free trade deal with the United States would be "a tough old haggle," after U.S. National Security Adviser John Bolton promised the U.K. quick sector-by-sector trade deals once it leaves the European Union.

Bolton said after meeting Johnson on Monday that "it might be possible to reach a bilateral agreement very quickly, very straightforwardly" in some areas of trade after Brexit.

Bolton said that "in the Trump administration, Britain's constantly at the front of the trade queue — or line as we say."

The comments could be interpreted as a boost to Johnson, who has vowed that Britain will leave the EU on Oct. 31, with or without a divorce deal. Supporters of Brexit say a free trade deal with the United States can help make up for any reduction in commerce with the EU after Britain leaves the bloc's single market for goods and services.

In 2018, Britain did almost half its trade with the EU, while the U.S. accounted for 18% of U.K. exports and 11% of imports.

Johnson said Tuesday that "In the U.S. there are all sorts of opportunities we have to open up trade."

"We will do a great deal with them and it will open up opportunities for U.K. businesses, and especially service companies, in the U.S.," he said.

"It will be a tough old haggle — but we will get there," he added.

Trade experts said Bolton's warm words for Britain left many key questions unanswered.

David Henig, director of the U.K. Trade Policy Project at the European Centre for International Political Economy, said sectoral trade deals were feasible, along the lines of the U.S.-EU Open Skies agreement on aviation. But he cautioned that grander claims about a trans-Atlantic free trade deal were premature.

"The scope for significant growth in trade from the U.K. side is not great," he said. "From the U.S. side ... there is scope for a lot more U.S. exports of agriculture" — but those would be controversial in Britain, where many regard U.S., animal-welfare standards as lax.

He said both governments could want a "token" trade deal for political reasons.

"President Trump wants a win before the election next year, Boris Johnson wants a U.S. deal," Henig said. "So it's not impossible to see them announcing on Nov. 1: 'We have a trade deal.' It might not mean an awful lot. ... The devil, as often, could be in the detail."

As for Bolton's "front of the queue" remark — a dig at former President Barack Obama's 2016 assertion that a post-Brexit Britain would be at the "back of the queue" for a U.S. trade deal — Henig said "it's not entirely clear that anybody else is in the queue."

"Most people are trying to avoid having trade deals with the U.S. because they think they'd be disadvantageous," he said. "We may be the only people actually wanting this, because Trump doesn't really believe in trade anyway. He's a 'U.S. first' person."

The value of the British pound has plummeted in recent weeks as the odds shorten on Britain crashing out of the EU without an agreement, an outcome most economists say would cause economic turmoil. Britain's Parliament has rejected the existing divorce agreement and the EU refuses to renegotiate, so a no-deal Brexit appears increasingly likely.

Pro-EU lawmakers hope to take action in Parliament this fall to block a no-deal departure — either by passing legislation or by bringing down the government, which could lead to an early election.

Johnson has refused to rule out suspending Parliament if legislators try to delay or prevent Brexit. On Tuesday a judge set a hearing next month for an attempt by opposition lawmakers to stop Johnson from bypassing Parliament to force through a no-deal Brexit.

At the Court of Session in Edinburgh, Judge Raymond Doherty said a substantive hearing should take place Sept. 6 on a claim by more than 70 parliamentarians that sending lawmakers home before Oct. 31 would be "unlawful and unconstitutional."

___

Follow AP's full coverage of Brexit at: https://www.apnews.com/Brexit

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP World News, AP Business, AP Business - Economy
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Bolton's UK trade-deal promise leaves questions unanswered
British Prime Minister Boris Johnson says getting a free trade deal with the United States will be "a tough old haggle," after U.S. National Security Adviser John Bolton promised the U.K. quick sector-by-sector trade deals after Brexit
10:06AM ( 5 minutes ago )
Villages evacuated as fire burns Greek island nature reserve
Hundreds of firefighters battled wildfires in Greece Tuesday, with the largest burning through a thickly forested nature reserve on the island of Evia north of Athens where three villages have been evacuated.
10:00AM ( 11 minutes ago )
UN urges reluctant EU nations to help stranded migrants
The United Nations refugee agency is appealing to European governments to urgently allow in more than 500 people rescued in the Mediterranean but who remain stranded at sea as countries bicker over who should accept them
9:49AM ( 21 minutes ago )
Associated Press (AP)
UK court to hear bid to stop no-deal Brexit next month
A British judge has set a hearing next month for an attempt by opposition lawmakers to stop Prime Minister Boris Johnson from suspending Parliament to force through a no-deal Brexit
6:35AM ( 3 hours ago )
Trump to promote turning natural gas into plastics in Pa.
Trump to travel to western Pennsylvania to showcase growing efforts to turn fracked gas into plastics
6:34AM ( 3 hours ago )
Portland, Oregon, braces for far-right rally, counterprotest
Portland, Oregon, police are mobilizing in hopes of avoiding clashes between out-of-state hate groups planning a rally this weekend and homegrown antifascists who say they'll come out to oppose them
6:12AM ( 3 hours ago )
AP Online Headlines - Washington
US government weakens application of Endangered Species Act
Trump administration makes sweeping changes to the 45-year-old Endangered Species Act that critics say will speed the loss of animals and plants at a time of record global extinctions
6:28PM ( 15 hours ago )
Trump admin weakens enforcement of Endangered Species Act
Trump administration makes sweeping changes to the 45-year-old Endangered Species Act that critics say will speed the loss of animals and plants at a time of record global extinctions
5:53PM ( 16 hours ago )
Texas lawmakers ask state police to investigate GOP scandal
Texas lawmakers ask state police to investigate allegations that Republican House Speaker Dennis Bonnen offered media credentials to a hardline conservative activist in exchange for campaigning against a group of GOP incumbents
3:18PM ( 18 hours ago )
AP Online Congress News
Flights out of Hong Kong canceled again amid protests
Hong Kong's international airport has canceled all remaining flights for a second day after pro-democracy protesters took over the terminals
8:08AM ( 2 hours ago )
The Latest: Spain dismisses migrant minors' asylum request
A senior Spanish official says an asylum request on behalf of 31 migrant minors made by the captain of an aid group's ship that rescued them at sea carries no legal weight.
8:07AM ( 2 hours ago )
The Latest: Concerts canceled over Hong Kong airport protest
At least three concerts by overseas performers have been canceled in Hong Kong as protesters forced the airport to suspend operations for a second day
7:59AM ( 2 hours ago )
AP World News
US consumer prices rose 0.3% amid widespread cost increases
US consumer prices rise 0.3% in July, lifted by more expensive gas, medical care and housing
8:33AM ( 1 hour ago )
Indonesian firm cancels Chinese loan for its Trump project
U.S. President Donald Trump's son and his Indonesian business partner say a theme park that also features a Trump hotel and condos will no longer have Chinese financing
8:05AM ( 2 hours ago )
Global stocks sink on trade war jitters, economic data
Global stock prices fell again over anxiety that the U.S.-Chinese trade war will cut global economic growth
7:49AM ( 2 hours ago )
AP Business
Asian stocks follow Wall Street lower on trade war jitters
Asian stocks follow Wall Street lower amid anxiety U.S.-Chinese trade war will cut global growth
1:39AM ( 8 hours ago )
Not just Bali: Indonesia hopes to develop more tourism sites
In his second term, Indonesia's president hopes to find foreign investors for '10 new Balis' to boost tourism and diversify Southeast Asia's largest economy
11:35PM ( 10 hours ago )
UN probing 35 North Korean cyberattacks in 17 countries
U.N. experts say they are investigating at least 35 instances in 17 countries of North Koreans using cyberattacks to illegally raise money for weapons of mass destruction programs
8:52PM ( 13 hours ago )
AP Business - Economy
Villages evacuated as fire burns Greek island nature reserve
Hundreds of firefighters battled wildfires in Greece Tuesday, with the largest burning through a thickly forested nature reserve on the island of Evia north of Athens where three villages have been evacuated.
10:00AM ( 11 minutes ago )
UN urges reluctant EU nations to help stranded migrants
The United Nations refugee agency is appealing to European governments to urgently allow in more than 500 people rescued in the Mediterranean but who remain stranded at sea as countries bicker over who should accept them
9:49AM ( 22 minutes ago )
Malaysia finds body believed to be missing London teen
Malaysian police say rescuers have found the naked body of a Caucasian female believed to be that of a 15-year-old London girl who was reported missing more than a week ago
9:21AM ( 50 minutes ago )
Epstein death shifts federal focus to possible conspirators
Federal prosecutors are turning their attention to possible criminal charges against anyone who conspired with the wealthy financier Jeffrey Epstein in his alleged sexual abuse
8:57AM ( 1 hour ago )
Village evacuated as fire burns Greek island nature reserve
Hundreds of firefighters were battling three separate wildfires in Greece Tuesday, with the largest burning a pine forest on the island of Evia north of Athens, where two villages were being evacuated.
8:39AM ( 1 hour ago )