Brexit trade deals: The 4 trade deals next in Truss’s arsenal

Ukraine: Britain ‘will ensure’ Putin fails says Liz Truss

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The former International Trade secretary Liz Truss is still involved in the UK’s free trade negotiations as Foreign Secretary, and has wasted no time. Since leaving the bloc, the UK has signed various post-Brexit bilateral financial agreements & free trade deals with strategic countries.

Earlier this year, the long-awaited trade deal between the UK and New Zealand was signed, removing trade barriers on a huge range of UK goods and services.

Just this week, the US agreed to ease steep tariffs on UK steel and aluminum products – reversing Donald Trump-era disputes.

President Trump enacted a 25 percent levy on UK steel and 10 percent levy on aluminum products.

Four individual trade agreements are currently in the discussion stage, according to GOV.UK.

READ MORE: EU blasted as row erupts over hated Brexit deal

Algeria

According to GOV.UK, “engagement” over a trade deal with the African country is ongoing.

The agreement would take place under the “Generalised Scheme of Preferences” for imports in the UK.

However, UK exports “will be subject to partner country national legislation.”

Bosnia and Herzegovina

The UK is currently in the “engagement” stage of creating a trade deal with Bosnia and Herzegovina.

Such a deal would mean imports from Bosnia and Herzegovina would take place under the WTO terms.

Currently, Bosnia and Herzegovina is not a member of the World Trade Organisation.

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Greenland

Lovers of fish and chips could be set to benefit from slashed seafood tariffs as the UK and Greenland are currently in talks.

Negotiations for a trade agreement were launched in January this year.

At the time, Secretary of State for International Trade Anne-Marie Trevelyan said: “A deal with Greenland will be a boost for our fish and seafood processing sector – a key industry for Yorkshire and Scotland.”

“Greenland also has a vital geo-strategic location in the Arctic, and as such, I look forward to bringing our two countries closer together.”

India

The UK does not currently have a trade agreement with India – but it is hoped one will become a reality in the near future.

Negotiations between the powers started on January 17, 2022.

What other trade deals are on the cards?

According to the Commons Library, the UK Government has started trade agreement talks with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Joining the partnership would create deals with Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Talks are hoped to conclude by the end of 2022.

Negotiations for a deal with the USA began in May 2020 – but a deal is not expected anytime soon.

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