{"id":19287,"date":"2023-10-04T14:03:42","date_gmt":"2023-10-04T14:03:42","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19287"},"modified":"2023-10-04T14:03:45","modified_gmt":"2023-10-04T14:03:45","slug":"strategic-us-uk-agricultural-trade-deal-talks-to-begin-october-2023","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/10\/04\/strategic-us-uk-agricultural-trade-deal-talks-to-begin-october-2023\/","title":{"rendered":"Strategic US-UK agricultural trade deal talks to begin October, 2023"},"content":{"rendered":"\n

U.S<\/u><\/a>. President Joe Biden and UK<\/u><\/a> Prime Minister Rushi Sunak are starting foundational talks on an export deal this October. The negotiations will include agricultural trade, Politico<\/u><\/a> reports.<\/p>\n\n\n\n

With the two leaders seeking reelection in 2024, they are looking forward to lay grounds for beneficial trade relations.<\/p>\n\n\n\n

Insiders hope that the talks will have been fruitful before the November, 2024 U.S. election and the 2024 UK general election.<\/p>\n\n\n\n

Prior to the\u00a0foundational trade<\/u><\/a>\u00a0negotiations, the U.S. is proposing full market access in the UK for its agricultural trade commodities and U.S. traders eye a deal with almost the same privileges as a\u00a0free trade agreement.<\/u><\/a><\/p>\n\n\n\n

Interestingly, the British PM is closing in on the first free trade agreement with a non-EU country, India. The deal will be the largest such deal since February, 2020, the month the UK formally exit the European union (EU).<\/p>\n\n\n\n

With the India-UK free trade agreement finalizing in late 2023, the U.S. is keen on a similar treat.<\/p>\n\n\n\n

Key hindrances include such issues as animal welfare and UK\u2019s wariness on treated animal products from the United States. British farmers also are circumspect that American produce may prove cheaper <\/u><\/a>than theirs and infiltrate the local market. <\/p>\n\n\n\n

US-UK Agricultural Trade Post-Brexit<\/strong><\/strong><\/h3>\n\n\n\n

In the Brexit year of 2020, agricultural trade between the United States and the United Kingdom was quite small. The U.S. exported $2.75 billion of agricultural products to the UK in 2020, mostly forestry products. <\/p>\n\n\n\n

The UK exported just $1.1 billion of agricultural products to the U.S. the same year, mostly distillery products.<\/p>\n\n\n\n

The agricultural export market between the two strategic countries was down in the run up to Brexit. UK\u2019s agricultural trade with the U.S. dipped\u00a0by –0.15% (exports) and -0.08% (imports)\u00a0<\/u><\/a>between 2015 and 2020.\u00a0<\/p>\n\n\n\n

The above details reveal that the UK\u2019s post-Brexit trade outside the EU has leaned more to exports than to imports. China, the biggest trade beneficiary with the UK, for example, saw a growth of 0.54%  in exports from the UK in 2020 while corresponding imports fell by -0.07% in the same period.<\/p>\n\n\n\n

A look at the 3 key US to UK agricultural exports<\/strong><\/strong><\/h3>\n\n\n\n

Things may change as the UK looks more westward for trade with orders for three key agricultural products from the U.S, namely:<\/p>\n\n\n\n