Ian Payne 4am - 7am
Liz Truss is 'very hopeful' of UK striking post-Brexit trade deal with the US
4 March 2021, 19:40 | Updated: 4 March 2021, 19:44
International Trade Secretary Liz Truss tells Iain Dale she is "very hopeful" about striking a post-Brexit trade deal with the US.
After news emerged Washington will temporarily halt tariffs on a range of goods, cutting the 25% tariff rate on Scotch whisky to 0% for four months, Iain Dale spoke to International Trade Secretary Liz Truss.
Setting out the background the Government Minister explained there had been a long-running trade dispute which led to Donald Trump's administration hitting the UK and European Union with tariffs on £5.6 billion worth of goods in retaliation for state support given to Airbus, with products including Scotch whisky badly affected by the measures.
She told LBC the United Kingdom has now "sought to de-escalate this dispute, remove the tariffs on Boeing."
This led to the USA "responding in kind" and lifting tariffs on good such as whisky.
Iain Dale asked if this meant the UK Government were "giving in to the Americans?"
Which the International Trade Secretary then denied.
When Iain Dale asked if this meant she was more confident about striking a free trade agreement with the US under the Biden administration the response was positive.
She told Iain removing the whisky tariffs and ending the dispute was a "key part" in moving forwards.
Prime Minister Boris Johnson said on Thursday that the measures, due to come into force on Monday, would benefit businesses across the UK.
Exports to the US have fallen by 35% over the 16 months the measures have been in force, costing companies more than half a billion pounds, according to the Scotch Whisky Association (SWA).