US Suspends $416 Billion Trade Deal with Britain

Darwin, 17 December: The United States has suspended a $416 billion trade deal signed with the United Kingdom due to disagreements over trade concessions. This information was reported by the British media outlet Financial Express, citing government officials from both countries.

According to Anadolu News Agency, the trade agreement between the UK and the US, known as the “landmark understanding,” was signed last September. Following the signing, a statement from the office of British Prime Minister Keir Starmer said that the agreement would establish cooperative trade relations in areas including artificial intelligence, civilian nuclear power, quantum technology, and other military-civilian and strategic sectors. Under this agreement, investments will be made in various science and technology sectors, and initiatives will be undertaken to make everyday life easier and more beneficial for ordinary citizens.

In the statement, Prime Minister Keir Starmer said that through this trade deal, the people of Britain had taken a step forward in next-generation science and technology on a global scale.

Citing British officials, the Financial Times reported that under the terms of the deal, the UK had agreed to grant certain tariff concessions in some areas of its science and technology sector, but the US was not satisfied. American officials wanted the scope of tariff-free areas to be expanded further.

Meanwhile, British officials could not agree to this demand from the US. They said that since early December, several rounds of talks had been held with American officials on this issue. However, as both sides remained firm in their positions, US officials ultimately decided to suspend the agreement last week.

A British official told the Financial Times, “Our relationship with the United States has always been strong, and it remains so. We entered this agreement with two objectives—to increase foreign investment in the science and technology sector and to make various technological opportunities more accessible to the people of both countries. We remain committed to achieving these goals.”