Britain, United States launch trade talks as virus ravages global economy – Gulf Today

  • Date: 06-May-2020
  • Source: Gulf Today
  • Sector:Economy
  • Country:Gulf
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Britain, United States launch trade talks as virus ravages global economy – Gulf Today

The United States and Britain launched formal negotiations on a free trade agreement on Tuesday, vowing to work quickly to seal a deal that could counter the massive drag of the coronavirus pandemic on trade flows and the two allies' economies.. The talks, to be conducted virtually, will involve over 300 US and UK staff and officials in nearly 30 negotiating groups, US Trade Representative Robert Lighthizer and UK trade minister Liz Truss said in a joint statement.. Asked about President Donald Trump's threat to impose more tariffs on China over its handling of the outbreak, Pierce said, "In general terms, tariffs are not particularly conducive to free trade, and we the Brits believe very much in free trade.. Britain is also pushing the United States and the EU to resolve a dispute over aircraft subsidies that has resulted in tit-for-tat tariffs, including on Scotch whiskey.. Britain also will not change its approach to drug pricing or Britain's National Health Service, the UK official said.. Trade in goods between the United States and United Kingdom was valued at $127.1 billion in 2018, with the two sides roughly in balance, while the services trade topped $134.8 billion..