UK-US trade talks postponed indefinitely

Negotiations on a UK-US free trade deal have been postponed indefinitely due to the coronavirus crisis, Report says, citing daily Telegraph.

According to the publication, formal talks were due to start after years of preparation in the week beginning March 23, with Liz Truss, the Secretary of State for International Trade, flying out to Washington DC with her top trade officials.

There is no new date agreed for a restart.

The parties are considering the possibility of holding trade negotiations in the format of videoconferences. However, according to some participants in the negotiation process, such a dialogue "will be less effective."

According to experts, the UK government expects that the conclusion of a free trade agreement with US will increase trade between the two countries by $ 20 billion, and the direct benefit to the economy of UK will amount to $ 4.4 billion.