However, if we got a free trade agreement with the US would the inverse be true, EU companies are better off moving to the UK due to brexit? What about just a FTA with all commonwealth countries (why haven't we done this??)?
Trump is unpredictable. He made a new free trade agreement with Canada and Mexico in his previous term, but has put tariffs on some Canadian goods this time round. That isn't going to reassure investors.
A FTA with the USA would come at a significant price — the UK would be pressured to accept low-quality American agricultural produce, and lower many other standards from their current European level. If it does this, that reduces the global value of British exports.
there was much ado about chlorinated chicken a few days ago. apparently the US washes chicken carcasses with chlorine to disinfect them, whereas that's illegal in the EU, which has more stringent farm cleanliness standards instead. I think there's similar issues with an arsenic compound (seriously!) being fed to chicken as some sort of antibiotic.
iirc Trump did say he wanted EU to accept our livestock to reduce the trade deficit, leading Lutnick to memorably proclaim "They hate our beef because our beef is beautiful and theirs is weak!"
"Chlorinated chicken" has been a discussion topic in Britain since before Brexit, when some politicians were saying it would be easy to get a deal with the USA to replace trade with the EU.
It's not something that will be forgotten easily. British people on all sides were against reducing food standards.
IMO I think we'll end up with "a uk body setting new GMO standards" being cover to allow US GMO stuff in. Then maybe hormone beef and similar, but not chicken. Quota-less fish, tariff free trucks/cars (like that's going to make a difference) and some other minor tweaks.
Yes, and we'll see what next week brings sigh. For all any of us know we're going to wake up in the morning and the EU has a 125% tariff too. I'm not even sure Mr orange himself knows what happens in 90 days when these temporary reliefs expire.
90 days? We don't know what is going to happen tomorrow or more to the point if you put goods on a boat to the USA you have no way to predict what the tariff will be when they arrive. If you are selling a product that relies on imported parts you can not know your cost of goods until they clear customs.
We are literally in the process of moving some of our operations to LATM to avoid this uncertainty.
How can anybody trust the US ever again? Trump completely ignored an existing free trade agreement with Canada and Mexico that he himself signed.
You have to assume that the US is sane a maximum of four years in a row and in four years another Trump 2.0 will again be completely ignoring all their agreements.
In my opinion, the US cannot be trusted with any treaties ever again the way they currently are.
Because free trade is typically a good thing that lifts everyone? It's also not "FTA with the UK" it's FTA between everyone, we just happen to be a member. We may be quite low down the list for say Canada as a trading partner and that's fine?
However, if we got a free trade agreement with the US would the inverse be true, EU companies are better off moving to the UK due to brexit? What about just a FTA with all commonwealth countries (why haven't we done this??)?