Anglo Irish Free Trade Agreement
But there are “a dozen substantive points” on which an agreement has yet to be reached and it is clear that Mr. Lemass certainly wants to sign the free trade agreement, but “it was not certain that all his colleagues would do so,” says an additional note. In the 19th century, the United Kingdom was the most powerful trading nation in the world. The United States took its place in the world in the 20th century. If the 21st century is indeed the century of the Pacific, with China as the new dominant trading nation, can the combination of the world`s largest and fifth economies (the United States and the United Kingdom) create a sufficient geoeconomic ballast in the form of a free trade agreement between the United States and Britain to offset China`s rise? Would these two digital innovators, with a common culture and language, be able to “win the future” of technological innovations and shape the digital economy? Can they stimulate the digital future with democratic norms? In the short term, the main obstacle to greater cooperation between the United States and the United Kingdom in the area of digital commerce is the decision of the United Kingdom to impose a 2% tax on digital services on technology companies that are disproportionately in the United States. The United States has just announced a formal investigation into Section 301 on this tax, which was found to be discriminatory. Another political challenge that the UK government appears to be adapting is the UK`s reliance on telecommunications to China`s Huawei for its 5G broadband requirements. The United States would certainly seek assurances that Huawei devices will not be included in future digital innovations. Negotiators from the United Kingdom and the United States have set a broad framework for a comprehensive free trade agreement, but the upcoming U.S. presidential elections put pressure on the timing to reach a broad agreement (the U.S. Trade Promotion Agency, which allows Congress to accelerate any eventual deal, ends in July 2021). January 2021 could also be a particularly difficult time for the UK if its participation in european supply chains and standards is abruptly halted.
But if both sides are able to overcome these obstacles, a free trade agreement between the United States and Britain could redirect the British economy to North American markets, which may justify further steps toward integration into the U.S.-Mexico-Canada agreement. If no free trade agreement between Britain and the United States can be concluded by the end of the year, the British government will not be able to immediately demonstrate the benefits of Brexit, while the British people will know their full cost. Before concluding, I would like to reiterate that we will be very affected by this agreement and its efforts to hide the facts from those whom the government has not been honest. It is not fair to present to Parliament a certain measure of this importance and to try to make the House and, through us, the citizens believe that this is just a normal trade agreement that will benefit us. It is not to our advantage and it cannot be to our advantage.