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The government hoped that a deal with the United States, the world’s largest economy, would demonstrate the benefits of Britain having an independent trade policy outside the EU. However, speaking to the New York Times, Mr. Biden warned: “I am not going to sign any new trade agreements with anyone until we have made significant investments here at home and in education.”
The incoming president added that he plans to “fight like hell by investing in America first.”
He called artificial intelligence, biotechnology, and energy sectors that could receive massive investment from the US government.
Johnson hoped to strike a new trade deal between the United States and Donald Trump, a fervent Brexit fan.
However, Trump’s defeat in last month’s presidential election means that the prime minister will soon face a new administration.
“I will not enter into any new trade agreement” (Image: GETTY)
Joe Biden to become president of the United States in January (Image: GETTY)
Formally, the UK government cannot start talks with Biden’s team until he takes office in January.
However, according to The Guardian, informal approaches have been made to key senators from the Democratic Party.
Britain is trying to negotiate a new trade agreement with the European Union.
The Brexit transition period, during which the UK will remain in the European single market, comes to an end later this year.
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Boris Johnson hoped to negotiate a trade deal with President Trump (Image: GETTY)
However, during this time, Britain has been contributing to the EU budget and accepting Brussels regulations in a variety of policy areas.
Talks between the UK and the EU have stalled over European access to British fishing waters and the extent to which the UK can deviate from EU regulations on “level playing field”.
If no agreement is reached, trade from the beginning of next year will take place under the rules of the World Trade Organization (WTO), which means significant tariffs on the trade of many products.
On Wednesday Michel Barnier, the EU’s top negotiator, insisted the UK had cut its fishing demands from 80 percent of those found in British waters to 60 percent.
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Trade talks between the UK and the EU go to the limit (Image: GETTY)
Michel Barnier leads the EU Brexit negotiating team (Image: GETTY)
He was responding to European concerns that the EU is making too many concessions to the UK on the issue.
Speaking to The Telegraph, an EU source said: “Some member states are getting a bit nervous, so this was primarily an exercise to calm the nerves in Paris and elsewhere and to assure member states that the Barnier team will continue to defend the core interests of the EU, including in fisheries. “
However, referring to Mr. Barnier’s comments, a second added: “If his intention was to reassure the ambassadors, he was unsuccessful.
“Whatever it brings to Brussels will be the subject of very rigorous scrutiny.”
Biden also used his interview with the New York Times to announce that he does not plan to lift any tariffs on China.
He added: “I think China’s best strategy is one that puts all of our, or at least those who used to be, allies on the same page.
“It is going to be one of the top priorities for me in the first weeks of my presidency to try to get us back on the same page with our allies.”
Tensions between the United States and Beijing turned sour over a number of issues, including trade, under President Trump.
Fishing is one of the most divisive topics in the trade talks between the UK and the EU (Image: GETTY)
Biden indicated that he hopes to resuscitate the Iran nuclear deal, when Trump withdrew the United States in 2018.
He warned that if this does not happen, Egypt, Saudi Arabia and Turkey will feel pressure to initiate nuclear weapons programs.
The incoming president added: “The last damn thing we need in that part of the world is a build-up of nuclear capacity.”
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