The United Kingdom and United States are expected to announce plans to launch formal trade talks on Wednesday. Negotiations are set to take place in an attempt to resolve a long-running dispute between London and Washington over tariffs on steel and aluminum.
However, neither the UK or US are expected to set out a timeline for the talks or a deadline to secure an agreement.
Reuters reports the International Trade Secretary Anne-Marie Trevelyan, 52, and US Commerce Secretary Gina Raimondo, 50, will announce the plans as a part of a virtual meeting concerning the tariffs placed on metals.
The report comes just a week after US Trade Representative Katherine Tai, 47, suggested they would look to ease tariffs on British steel and aluminum "when the time is right".
Japan is also keen to strike a new deal with the United States.
Both London and Tokyo hope to mirror the "duty-free access" deal signed by Brussels and Washington in October, which enabled additional costs to be lifted on around 4million tons of steel "melted and poured" into the EU annually.
JUST IN:Tory civil war: 58 MPs criticise Boris Johnson over 'partygate' as rebels plot to oust PM
The UK opted to keep the EU's pre-deal retaliatory tariffs on US products, including on whiskey and tobacco, when it severed ties with the EU's single market and customs union in January 2021.
However, the news comes as the Institute of Export and International Trade has claimed Brexit Britain has now overtaken both Germany and China as the top growth market for US business.
Around 37 percent of US CEOs surveyed named the UK as one of the three countries or territories most important to their companies' revenue growth prospects.
The figure was just 21 percent last year.
The number of American business chiefs who named China stood at 26 percent and Germany was slightly further behind on 24 percent.
READ MORE:Dutch ENVIOUS of Brexit Britain as exports to India set to 'double'
Kevin Ellis, chairman and senior partner of PwC UK, said: "Its not hard to see why US businesses have their sights on the UK.
"Aside from longstanding draws such as our trusted legal and business environment, certain factors make us ripe for investment now.
"Successful vaccine rollout and significant government funding have given us a head start on recovery.
"Meanwhile, our listed assets represent good value, at a time when many investors have full war chests to spend."
The US estimates goods and services trade with the United Kingdom stood at a whopping $273billion in 2019.
DON'TMISS:Beth Rigby ERUPTS at Boris 'that sounds ridiculous!'[INSIGHT]Brexit: Global Britain kickstarts 11bn spending spree[LIVE]Abbott slapped down over 'sonic boom' claim[REVEALED]
However, President Joe Biden, 79, is said to be less enthusiastic about striking a post-Brexit trade deal and has put pressure on the UK Government over its negotiations with the EU over the implementation of the Northern Ireland Protocol.
The leave-voting Trade Minister Penny Mordaunt, 48, who has been tipped as a dark horse in the race to succeed 57-year-old Boris Johnson as Prime Minister, even suggested back in November that much of her time will be spent "working in the US at state level".
She added: "We know the US has more to do to be ready for an FTA, but when they are, we will be waiting for them."
Follow this link:
- Government should stop grandstanding over Brexit | London Business News - London Loves Business [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Coronavirus lockdown: Brexit talks could be eased with informal Zoom drinks over video conference - inews [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Brexit: EU Trade Talks Could Collapse in June over Fishing, Regulations - Breitbart [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- How Kronborg Castle helped to inspire Shakespeare | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Extending the Brexit transition period - Third Force News [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Boris Johnson's perversity on the Brexit cliff edge reminds me of the Free State's rejection of all things British - Slugger O'Toole [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Who is on the BBC's Question Time tonight? | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Crunching the numbers, could Brexit really lead to a United Ireland? - Galway Daily [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Theres something common in reactions to Ranbir Kapoors jeans, Brexit and Khan Market gang - ThePrint [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Priti Patel allies to 'demand apology' over bullying allegations | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Post-Brexit carte system 'will be easy', France says - The Connexion [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Brexit does not belong to one party, and Labour must play its part - LabourList [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- EU free trade deal with Mexico (started at same time as Brexit) is AGREED - Express.co.uk [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- DAVID EDGERTON: Where Brexit and Covid-19 collide | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Boris Johnson must extend Brexit talks for another YEAR, major Tory Party donor demands - Express [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Campaigners file case that argues EU citizenship is permanent regardless of Brexit | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Gove Complains EU Not Respecting Sovereignty in Brexit Talks - Bloomberg [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- SNP warn of 'chilling prospect' of no-deal Brexit as UK Gov won't extend talks - The Scotsman [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- UK seeks access to EU health cooperation in light of coronavirus - The Guardian [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Boris gives green light for Brexit Britain to start formal US trade talks NEXT WEEK - Express [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- UK will need to extend Brexit transition, Merkel ally warns Britain - The Guardian [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Tory MP David Davis urges government capitalise on coronavirus outbreak to seal a Brexit deal | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Coronavirus: We are all paying the price for the Tory government's preoccupation with Brexit | Latest Brexit news and top stories - The New European [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Brexit trade deal WILL be struck this year say UK negotiators - but only after EU tantrum - Express [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Row over EU office in Belfast threatens to derail Brexit talks - The Guardian [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- British lawyer sues EU over her removal from its court due to Brexit - The Guardian [Last Updated On: May 2nd, 2020] [Originally Added On: May 2nd, 2020]
- Arlene Foster: Talk of extension to Brexit transition period a 'distraction' - The Irish News [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- The week ahead: Brexit talks to continue, US and China retail sales eyed - FXStreet [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- 2 reasons why Brexit could soon be the biggest factor influencing the FTSE 100 index - Motley Fool UK [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- McCann FitzGerald and William Fry cut pay as Covid-19 reverses Brexit optimism in Ireland - The Global Legal Post [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Local fishermen against Brexit transition period extension - Shetland News [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Europe Day reminds us that unity is strength | Latest Brexit news and top stories - The New European [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Robert Jenrick struggles to explain new coronavirus messaging from government | Latest Brexit news and top stories - The New European [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- GBPUSD steady above 1.2400 as new Brexit talks resume - InvestingCube [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Pro-Brexit Tory MP tries to overturn result of two referendums - The New European [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Britain's fisheries on the table today as Brexit deal talks resume - EU Today [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Brexit fishing outrage: How UK could have followed Norway's path and protected its waters - Express [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Letter: It's time for politicians to respect the Brexit referendum - East London and West Essex Guardian Series [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Brexit ultimatum: MEPs demand access to crunch Brexit conference as VDL issued warning - Express.co.uk [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Keir Starmer refuses to back Brexit transition extension - The Independent [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Foster: Talk of extension to Brexit transition period a distraction - Belfast Telegraph [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- The Brextremists plot their revenge on the House of Lords | Latest Brexit news and top stories - The New European [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Brexit shambles: How desperate Remainers tried to claim William Shakespeare in EU debate - Express [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Has Brexit affected the way Britons think about immigrants? The recent 'national mood' on immigration - British Politics and Policy at LSE [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Ireland says Brexit trade talks timeline 'virtually impossible' - Reuters [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- Brexit talks back on between EU and UK ahead of June summit - Euronews [Last Updated On: May 11th, 2020] [Originally Added On: May 11th, 2020]
- TCW's Brexit Watch: Our Hong Kong connection strikes fear into EU - The Conservative Woman [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Ian McConnell: Will anything, anything at all make Johnson and Co. stop Brexit folly in its tracks in time as Scottish pleas ignored? - HeraldScotland [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Evening top 5: Accelerated COVID-19 re-opening; summer schools; and 'no progress' on Brexit - Newstalk [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Inside the final act of the Brexit drama - Spectator.co.uk [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Letter to the editor: No-deal Brexit would make recession worse - Bournemouth Echo [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- MSP: Firms in East Dunbartonshire cant prepare for Brexit on top of a pandemic - Kirkintilloch Herald [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Our response to pandemic can help to heal Brexit wounds Archbishop of York - Yorkshire Post [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Irish fears for Brexit talks if Hogan gets top WTO job - The Irish Times [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Brexit backlash: Guy Verhofstadt savaged after yet another attack on Boris Johnson - Express [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Crucial week ahead in Brexit negotiations, says Ahern - RTE.ie [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Key election battlegrounds face double hit from Brexit and coronavirus - The Guardian [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Jacob Rees-Mogg conjures Thatcher while dismissing calls for a Brexit extension - The New European [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- The Economic Case Against Extending the Brexit Transition - briefingsforbrexit.com [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Northern Ireland faces 'potent threat' from Brexit and Covid-19 - The Guardian [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- The Brexit crisis led to totally incompetent leadership at a time of unprecedented calamity. Now we are paying for it - The Independent [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Stormont backs calling for extension to Brexit transition period - The Guardian [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- UK seeks to boost post-Brexit ties with Asean partnership - Bangkok Post [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Claim that extending the Brexit transition period could cost 380 billion is not credible - Full Fact [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- The pandemic is being used as cover for a no-deal Brexit - The Guardian [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- The EU is beginning to believe the UK actually wants the Brexit trade deal talks to fail - Business Insider - Business Insider [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- How the Coronavirus Makes a No-Deal Brexit More Likely - The New York Times [Last Updated On: June 6th, 2020] [Originally Added On: June 6th, 2020]
- Bracknell readers send in their letters this week - Bracknell News [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- 'Crofters must not take their eye off Brexit' - Press and Journal [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- GBP/USD: Horrible UK GDP and Brexit hassles pounds the pound - FXStreet [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- 'Petrified' EU facing crisis as Brexit success threatens to spell END of bloc, Tice warns - Express.co.uk [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- Arsene Wenger warns Brexit restrictions could kill Premier League and its global appeal - Mirror Online [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- Scottish research facing twin threats of COVID and Brexit - gov.scot - Scottish Government News [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- Germany and France must do THIS for EU survival or other nations will follow Brexit - Express.co.uk [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- No-deal Brexit would be 'major block' to UK's recovery, warns CBI - The Guardian [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- WATCH: Tory Brexiteer baffles news viewers by claiming EU will 'blink again' over government's Brexit position - The New European [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- Majority of Britons back Brexit extension to help beat coronavirus - The Independent [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- Brexit: No light ahead of the tunnel - RTE.ie [Last Updated On: June 13th, 2020] [Originally Added On: June 13th, 2020]
- First Minister links with Welsh counterpart to lobby Boris Johnson for Brexit extension - Northern Times [Last Updated On: June 17th, 2020] [Originally Added On: June 17th, 2020]
- Brexit talks latest: Government and Tory Party are facing a big split over cheap US food imports - iNews [Last Updated On: June 17th, 2020] [Originally Added On: June 17th, 2020]