I was reading this article about the proposed US trade deal in the following article:
The thing that struck me was the following line: "The Department for International Trade's own analysis suggests that Britain's economy would be just 0.16% - or £3.4bn - bigger in 15 years - if all tariffs with the US are eliminated. And that scenario goes beyond the UK's objectives; in reality, the boost could be even smaller"
This seems to be a comparatively small benefit over a very long time, and given any gains are likely to result from politically sensitive concessions for both sides, would we not be better off sticking with the current arrangement, which is already very lucrative. It seems to me that any additional deal would be scraping the barrel. From our point of view, we're talking about potentially diluting the NHS's ability to bulk buy pharmaceuticals and then there's the whole farming issue, and there are doubtless things we would be angling for that the American electorate won't want.
Is it time to reiterate how good the relationship between our countries already is, but to concede that for the sake of both of our democracies, there's good reason why we haven't gone further.
BBC said:Navigating relationships via video calls has become a defining feature of the lockdown - and policymakers are no exception.
As International Trade Secretary Liz Truss and the US trade representative Robert Lighthizer kick off talks remotely, they're hoping that a long distance courtship won't be an obstacle to deeper ties - a deal which boosts output and jobs by cutting the charges and restrictions on trade.
The "special relationship" is already a lucrative one. More than £220bn worth of goods and services are traded between the two nations, their companies responsible for millions of jobs on the other's home turf.
The UK is hoping to capitalise on its new-found ability to strike free-trade deals with more opportunities for exporters of cars, ceramics and whisky, for example.
However, this won't be an easy ride into the sunset.
But there are sticking points. The US wants more access for its farmers to British markets, cue talk of chlorinated chicken and hormone treated beef.
President Trump is unlikely to back down on this as he tries to woo voters ahead of an election in country where one in six workers have filed for unemployment benefits in recent weeks.
And more access is likely to mean the UK having to relax standards and regulations - that, along with areas such as pharmaceutical prices, will meet with strenuous opposition from this side of the water.
Even if these hurdles are overcome, the gains may be modest. The Department for International Trade's own analysis suggests that Britain's economy would be just 0.16% - or £3.4bn - bigger in 15 years - if all tariffs with the US are eliminated. And that scenario goes beyond the UK's objectives; in reality, the boost could be even smaller.
Both sides are desperate for speed, to show at least some easy wins, perhaps in areas such as manufactured goods or financial services.
UK-US trade talks will not be an easy ride
Both sides are desperate for a speedy agreement, but there are clear sticking points.
www.bbc.co.uk
The thing that struck me was the following line: "The Department for International Trade's own analysis suggests that Britain's economy would be just 0.16% - or £3.4bn - bigger in 15 years - if all tariffs with the US are eliminated. And that scenario goes beyond the UK's objectives; in reality, the boost could be even smaller"
This seems to be a comparatively small benefit over a very long time, and given any gains are likely to result from politically sensitive concessions for both sides, would we not be better off sticking with the current arrangement, which is already very lucrative. It seems to me that any additional deal would be scraping the barrel. From our point of view, we're talking about potentially diluting the NHS's ability to bulk buy pharmaceuticals and then there's the whole farming issue, and there are doubtless things we would be angling for that the American electorate won't want.
Is it time to reiterate how good the relationship between our countries already is, but to concede that for the sake of both of our democracies, there's good reason why we haven't gone further.