Trade links between the US and the UK are among the most important worldwide. After Brexit, the UK has looked for new trade agreements to boost its place in global markets. One deal that many wait for is a US-UK trade agreement. Negotiations, however, have faced delays and obstacles.
Table OF Content
Do the UK and US have a trade agreement now?
What’s new about the US-UK trade talks?
Who is the UK’s main trade partner?
How much trade does the UK do with the US?
Why haven’t they made a deal yet?
How did the US political shifts affect UK trade?
Do the UK and US Have a Trade Deal?
As of 2024, there is no full free trade agreement between the UK and US. Both countries still follow WTO rules and have some sector-specific deals in place.
Why No Deal Yet? Several reasons explain the slow progress The UK focused on deals with the EU first after Brexit.
Changes in US leadership, from Trump to Biden, changed trade goals. Disagreements over food standards, like chlorinated chicken and hormone-treated beef, caused delays. Concerns over the Good Friday Agreement in Northern Ireland affected talks. Despite these issues, both nations want to boost trade relations in the future.
Who Is the UK’s Top Trade Partner?
The EU remains the main trading partner for the UK, making up 42% of trade in 2024.
Top 5 UK Trade Partners (2024)
European Union – 42%
United States – 15%
China – 7%
Switzerland – 4%
Japan – 2%
The US is the UK’s biggest single-country trading partner. A new trade deal could help both sides a lot.
Latest Updates on the US-UK Trade Deal (2025)
Biden’s Approach
President Joe Biden has been more cautious than Donald Trump in pursuing a trade deal with the UK. Instead, he focuses more on local policies and relations with the EU. Still, talks are ongoing at the ministerial level.
Possible Return of Trump in 2024
If Donald Trump wins the 2024 election, talks could pick up speed. Trump was a big supporter of a US-UK trade deal when he was president. He even called it potentially “very substantial.”
Trump’s Past Comments on UK Trade
In 2020, Trump said the US could have a “massive” trade deal with the UK. He criticized trade barriers from the EU and saw Brexit as a good chance for the US. His team looked at lowering tariffs on British cars and meat.
How Much Trade Exists Between the UK and US?
The US makes up about 15% of the UK’s trade. This shows how important the US market is for the UK.
UK exports to the US reached £157 billion in 2023. Imports from the US were worth £112 billion the same year. Total trade volume hit £269 billion.
Main UK Exports to the US include machinery, vehicles, pharmaceuticals, finance services, Scotch whisky, and luxury goods. UK imports from the US include aircraft, oil and gas, pharmaceuticals, precious metals, and agricultural products.
A trade deal could lower tariffs and make rules easier for smoother trade.
Updates on the US-UK Trade Deal in 2024 President Biden has shown less focus on a UK trade deal. He has prioritized US policies and relations with the EU. Still, discussions continue at government levels.
If Trump wins the 2024 election, progress could speed up. During his time as president, Trump strongly backed the idea of a US-UK trade deal. He even suggested it would be very big.
In 2020, Trump promised a “massive” deal with the UK. He often criticized EU trade policies and praised Brexit as a opportunity for trade. His team talked about lowering tariffs on British cars and meat.
Main issues in negotiations
Food standards: The US wants the UK to accept growth methods like hormone-treated beef and chlorinated chicken. The UK opposes this.
NHS protections: The UK refuses to include the NHS in trade talks. It fears higher drug prices.
Digital taxes: The US opposes UK taxes on tech firms like Google and Amazon.
Tariffs: Disputes over steel and aluminum tariffs also slow things down.
This overview gives a clear picture of where US-UK trade stands now and what challenges are ahead.
