Why UK government isn’t rushing for a US trade deal

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Striking a free trade deal with the US may only deliver a 0.16 per cent boost to the UK economy over the next 15 years, failing to make up the expected loss in trade from leaving the EU, the government said on Monday. Releasing its negotiating objectives for talks with Washington, the Department for International Trade claimed a trade pact could boost the UK economy by £15.3bn “in the long run”. The regions expected to benefit most from the deal, according to the government, are Scotland, the midlands and north east England.

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The government is insistent that the UK will not open up its public services to US competition. Throughout the 180 page document, it states a dozen times that the National Health Service is “not on the table”, including the price paid for drugs and services it provides. It also seeks to maintain standards for consumers, environment and food production.

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Liz Truss, the international trade secretary, said the UK will not compromise on standards in order to strike a deal. “If we don’t get the deal we want, we will be prepared to walk away, and that includes the red lines of food standards and the National Health Service,” she told the BBC. According to the document, the UK is seeking primarily to reduce tariff barriers with the US. Trade experts said this suggested that Boris Johnson’s government has lowered its ambitions for a comprehensive trade deal owing to political constraints.

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