USA to Quit TPP.
In a speech last night, President elect Donald Trump has said that his first action as President will be for the US to leave the Trans Pacific Partnership (TPP) trade deal.
TPP is a trade deal between 12 countries much like the free trade deal within the European Union but without the freedom of movement of people. Existing US trade deals such as the North American Free Trade Agreement (NAFTA), a trade agreement with Canada, Mexico and the USA, we suggest will remain given the shared border areas.
We also suggest that Transatlantic Trade and Investment Partnership (TTIP) between Europe and US will likely to shelved.
Expect a US UK Trade Deal?
The US is going through change as is the UK and given historical ties, similar industries, common language and Trump now championing Nigel Farage, we suggest that a US/UK trade deal could be on the agenda
There is much to be made by large corporate US firms operating in UK, particularly in health care and likewise, many opportunities for UK entrepreneurs to develop in the US. We are sure the UK Government will be keen on this despite their reluctance to be seen to ‘bow down’ to Trump and appoint Farage in some leading position.