EnPresident-elect Trump, in an interview with The Times has called for a trade deal with the U.K. to be done “very quickly”. From a technical perspective the U.K. cannot formally sign and enact any trade deals until it has formally left the EU. Under European Treaty rules this is two years (or more) after the Article 50 application to leave is triggered. The British government has committed to do by the end of March, as discussed in Panjiva research of January 3. While the U.K. could start informal negotiations, a final deal would need to be ratified by the U.S. Senate by a two thirds vote according to the Constitution.
The weakening of the pound compared to the dollar since the EU referendum left it 16.3% lower than a year earlier in November. This likely explains the 5.6% rise in U.K. exports to the U.S. and $1.72 billion trade surplus the country holds over the past 12 months, Panjiva data shows. Critical industries in terms of shipments to consider include beverages, autos and capital equipment.
Source: Panjiva
