Theresa May and Donald Trump hailed the UK-US "special relatinship" during her White House visit
Nile Gardiner, the director of conservative think-tank Heritage Foundation, said Britain could implement an established trade arrangement “within 90 days” after they have withdrawn their EU membership.
The impending deal follows reports which showed, Britain is America’s largest services trading partner and its largest direct investor.
Speaking at the US Congress’s first hearing dedicated to a new trans-Atlantic partnership following Brexit, Ted Poe – the chairman of the Congressional Foreign Affairs Committee – said the bilateral trade deal will “deepen" their alliance even further.
At least one million US jobs depend on British companies based in America and more than 1.25 million people are employed by US affiliates in the UK, according to the Congressional Research Service.
History of a special relationship: Presidents and Prime Ministers together
Wed, January 25, 2017
Ahead of the meeting between Theresa May and Donald Trump, a look back at the close ties between the U.S. and Britain.
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Margaret Thatcher shares a joke with Ronald Reagan, at No. 10 Downing Street
Several members of Congress, including former Republican presidential hopeful Marco Rubio, have already proposed draft resolutions of the deal and called on Trump to make it a central part of his foreign policy, the Telegraph claim.
However some experts claimed the “90 day” timeframe was optimistic because tiny details of the agreement will make it difficult to implement.
Daniel Hamilton, from the Johns Hopkins School of Advanced and International Studies, warned that US companies were based in the UK because of their membership within the EU which could affect Britain’s chances of gaining a favourable deal.
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Other major obstacles could come from regulatory issues as the two countries would have to agree on everything: from rules on food safety standards to labour rights.
Mr Hamilton claimed that "America's significant commercial and financial presence in the UK is premised in large part on UK membership in the EU” and that the Brussels bloc was "the largest, wealthiest and most important foreign market in the world to US companies”.
He added: “US companies are based in the UK because of its role as a gateway to the Single Market," the said. "US negotiators will want to know how open, wide and strong that gateway will be after Brexit."
Liam Fox said British officials will be in Washington within days to discuss deal
Thus, the deal could depend on Britain accepting US regulations that would enable currently banned genetically modified foods, and beef with growth hormones to be imported.
International Trade Secretary Liam Fox revealed that British trade officials will be in Washington within days for talks with US counterparts about a post-Brexit trade deal.
Dr Fox also told the Commons' International Trade Committee that while Britain remained in the EU, it would abide by membership obligations which ban Britain from signing trade deals with other parties.