The United Kingdom could finalize a scaled-back trade deal with the United States within months if Donald Trump wins the 2024 presidential election, according to a former minister.
Britain was in talks for a comprehensive Free Trade Agreement (FTA) with the US during Trump’s first presidency, but negotiations were scrapped when Joe Biden took office. The Biden administration shifted focus to other trade priorities, leaving UK-US trade relations without a formal agreement beyond existing frameworks.
However, with Trump potentially returning to the White House, some British officials believe there is an opportunity to revive trade discussions—albeit in a more limited form. A former minister suggested that a “slimmed-down” agreement focusing on key sectors such as financial services, digital trade, and agriculture could be achieved relatively quickly.
Despite enthusiasm for renewed talks, obstacles remain. Even under Trump, negotiations for a full FTA faced challenges, particularly regarding UK food and farming standards, as well as regulatory differences. A more targeted deal could bypass some of these issues but may not deliver the broad economic benefits of a full agreement.
The UK government has been pursuing trade deals worldwide post-Brexit, securing agreements with Australia, New Zealand, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). However, a deal with the US—one of Britain’s largest trading partners—remains a key objective.
Whether a new agreement materializes will depend on the outcome of the US election and the willingness of both governments to engage in fresh negotiations. If Trump wins and prioritizes a trade pact with Britain, progress could be swift, but if negotiations stall again, the UK may need to explore alternative economic partnerships.
