Prime Minister Rishi Sunak and US President Joe Biden are working towards a trade agreement before both face elections next year. Leaked documents reveal plans for a "foundation" deal to be signed ahead of the 2024 polls in both countries.
Promising Boost for Both Leaders
While the agreement will fall short of a full-fledged free trade deal, it is expected to provide a significant boost for both Sunak and Biden. The deal could ease friction on key issues such as farming, digital trade, and environmental standards, according to Politico.
Long-Awaited Deal
A trade agreement with the United States has long been pursued by successive Conservative Prime Ministers. However, various sticking points have hindered progress. Earlier this year, Sunak and Biden signed the Atlantic Declaration, which aimed to strengthen economic security by reducing barriers on critical minerals.
Election Goals
With Biden facing re-election in November 2024 and Sunak aiming to secure a historic fifth term for the Conservatives, a trade agreement between the UK and US could serve as a crucial accomplishment for both leaders.
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