After the announcement of the Brexit deal in 2016, it nearly took the British 4 years to get out of the EU. On 31st January, 2020, the UK formally exited the European union, but there is a lot of talk and negotiations left for the coming months. The EU has accepted the departure of the UK from the union and a transition period has been set, which is till 30th December.
Well, now that the UK is out of the EU, it needs to start trade deals with other countries and the US seems to be one of the best choices for that. Lots of people are estimating that this deal won’t be that helpful for the UK, but here are 5 ways that this deal can be beneficial to the UK Post-Brexit.
5 Ways Post-Brexit Deal with US Could Benefit UK:
Well, here are 5 ways that this deal can be beneficial to the UK.
- The US has one of the biggest markets in the world. A deal between US and UK would open a lot of opportunities between them. This deal will be as beneficial to the UK as it would be to the US.
- In 2019, the car production in the UK fell by 14% and this said to be quite significant. This has been the UK car sector’s third consecutive annual decline. A trade with the US will be quite beneficial as open the market for UK car companies to make lots of profit.
- The UK agriculture sector is quite better or preferable than the US. The reason is that there are few practices that are not done or carried out properly when compared to the UK. So, the demand of the UK agricultural products will increase and in turn will benefit the country.
- A free-trade deal is in talks between the two countries and this might prove to be quite beneficial for the UK in terms of Pharmaceuticals. The UK is one of the biggest importers of Pharmaceuticals from the US and free trade will greatly help the UK. The terms of this trade might change a bit but the UK will be quite beneficial from this deal.
- The Post-Brexit trade will open a lot of doors for the country. Many US based companies could start their ventures there and this would mean that there would be an increment of jobs in every sector in the UK. Areas such as NHS service delivery, transport, prison services and even education will be quite beneficial from this deal.
Well, these are just 5 ways a deal with the US can benefit British business post-Brexit. Apart from these there lots of other benefits also. Business in the UK such as this escape room in socal or this escape room in leamington will also flourish with this. Most people have predicted that the post-Brexit deal between US and UK will bear no fruit but that might turn out to be quite wrong as well because it can be quite easily understood that the deal with the US will shape other negotiations for UK as well.