The U.S. and U.K. are preparing to commence trade talks under the banner of the U.S./U.K. Trade Partnership Forum (TPF). These talks are expected to begin this month, with the first chapters completed by early next year.
TPF aims to address non-tariff trade barriers, economic standards and various non-tariff issues. Unlike free trade agreements (FTAs), TPFs do not include tariff reductions and do not require approval by Congress.
Agriculture has historically been a sticking point in U.S./U.K. trade talks, and while TPFs are easier to negotiate, agriculture issues are expected to persist as a contentious topic. U.S. lawmakers have been pressing for broader FTAs, which include new market access commitments, and some have introduced legislation to extend Trade Promotion Authority for negotiating such agreements. The ag sector has also been advocating for resumption of FTA negotiations with various trade partners.
