Donald Trump has built his reputation within his company on a “Winner Takes all” approach to negotiations and has built his political platform on an “America First” trade approach that has characterized trading partners like China as a “rape” of the United States. British officials have repeatedly stated that they are looking for a comprehensive trade deal and that they are not trying to enter into an agreement before the US election, and that they are still waiting to find out who will win the November election. Biden also suggested that the best way to influence trade with China was to build alliances to compete with China. Biden said his “objective would be to pursue a trade policy that effectively produces progress in China`s abusive practices – that is the theft of intellectual property, dumping products, illegal subsidies to businesses” and the consumption of “technological transfers” from U.S. companies to their Chinese counterparts. Ambassador Johnson on Tuesday proposed a promising update to negotiations on a free trade agreement between the United States and the United Kingdom. The president-elect says he won`t sign new agreements until the U.S. is more competitive “The repeal of the Good Friday agreement is a non-candidate, but there are five or six other potentially difficult issues on which the two countries are still very far apart,” said Harry Broadman, ceo of the Berkeley Research Group and former senior U.S. trade official. , including agriculture, the UK health system and the UK digital services tax. Investor-State Dispute Settlement (RDIE) allows foreign investors to sue governments for certain types of measures that hurt their profits. The United States tends to strive to include ISDS in its trade agreements.
If ISDS were included in an agreement between the United Kingdom and the United States, U.S. investors in the U.K. could challenge policies that could disadvantage them. In the past, ISDS has been used by companies to challenge environmental policies, health legislation and other rights. For example, a Swedish energy company sued Germany for putting in place measures to reduce water pollution and CO2 emissions. A US tobacco giant has sued Australia for trying to introduce legislation on single cigarette packaging – a public health protection policy. A French multinational sued Egypt for raising its national minimum wage. Both the British and American governments are aware that ISDS is politically toxic. ISDS remains a risk, however, as the UK government has refused to exclude it from future trade policy. In fact, Trade Minister Liam Fox called ISDS`s attempted abduction “unsylurable.” Talks between the EU and the UK are under way to reach a post-Brexit free trade agreement before the end of the year. It is time for the British government to realize that failure to meet its obligations under the Good Friday Agreement could seriously undermine its vision of “global Britain,” including all the ambitions of a comprehensive trade agreement with the United States.
During the round, 33 meetings were held, covering 21 different work processes. Many areas of agreement continue to be the subject of positive progress.