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US, Britain relations post Brexit to realign global businesses and policies

"The US opinion on Brexit and its impact and interests of US with United Kingdom and Europe , will soon be clear as the Senate Foreign Relations Committee is expected to hold a hearing with the Obama Administration. However, as the Obama administration will soon leave office, the hearing may not clarify the complete range of US opinion on the same. The discussion however, is expected to set a clear agenda for the future of US relations with Britain post Brexit."

 

US Britain relations post Brexit to realign global businesses and policies

The US opinion on Brexit and its impact and interests of US with United Kingdom and Europe , will soon be clear as the Senate Foreign Relations Committee is expected to hold a hearing with the Obama Administration. However, as the Obama administration will soon leave office, the hearing may not clarify the complete range of US opinion on the same. The discussion however, is expected to set a clear agenda for the future of US relations with Britain post Brexit. The committee is further expected to highlight the fundamental interest of US and formally conclude a free trade agreement as Britain will regain its freedom to negotiate its own trade agreements post the exit from European Union. The Committee is expected to discuss US’s important interests in Europe that do not relate to the EU most importantly, NATO, which any way will not be affected by Brexit.

Senate hearing to emphasise US interest post Brexit

US Britain relations post Brexit

The Senate hearing gains more significance as US interests and policy changes will have to base its future policies on the impending impact of Brexit. Thus US should have a fundamental interest in clean and quick Brexit. Before the referendum, voters opposing the move asserted that Brexit would cause the British economy to suffer, however, since the referendum, the British economy has strengthened, while the economies of the Eurozone have shown a deflationary spiral. Experts feel, being interdependent economies, the US, the EU, and Britain, need to tackle the uncertainty in business and economy rising over Brexit. Political leaders and policymakers in all 10 of the world’s largest economies, except France and Italy – have already expressed interest in negotiating free trade with Britain after it leaves the EU. In the US, Senators Tom Cotton (R-AR) and Mike Lee (R-UT) introduced the “United Kingdom Trade Continuity Act” on June 30, which would oblige the US. to continue its existing commercial relations with the UK until the US and Britain negotiate a free trade area. The US, therefore, should offer to assist Britain by seconding a trade expert from the office of the US. Trade Representative to Britain’s Department for International Trade. While Britain cannot conclude formal negotiations on any free trade area until it formally exits the EU, it can begin discussions now.

Talks advance for the U.S –UK free trade area

There are also talks of US-UK free trade area which would have the greatest value in practice if it focused on liberalizing trade in high-value goods, avoided any effort to harmonize regulations, clearly aligned the UK with the US as a nation outside the EU’s regulatory reach and sought over time to bring other nations that share the value that the US and Britain place on free, open, and competitive markets into their partnership.

It needs to be emphasized that US interests in Europe have never been limited to economics, rather new immigration rules that Britain will adopt after it leaves the EU will have to be considered by the United Sates.

 
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