Britain, US to clinch trade deal ‘this year’: Mnuchin

24 January, 2020 12:00 AM printer

DAVOS: US Treasury Secretary Steven Mnuchin said Thursday a post-Brexit trade deal between the United States and Britain is a top priority and he expects it will be reached by the end of this year.

The top US economic official made his comments before heading to London to lay out ways London and Washington could reach the quick accord after the UK leaves the EU on January 31, reports AFP.

Mnuchin’s UK counterpart, Sajid Javid, will embark on trade talks with both the EU and the US, in the hopes of sparing the British economy from any short or medium-term shocks of Brexit.

Javid told the US “they wanted to accomplish both these deals in 2020. That’s obviously an aggressive timeline,” Mnuchin said on the sidelines of the World Economic Forum in Davos.

A UK-US deal “is an absolute priority for President (Donald) Trump and we expect to complete that with them this year, which we think will be great for them and great for us,” he added.

US Commerce Secretary Wilbur Ross insisted the UK and US would have an easier time striking the deal than the EU, given close existing ties.