The US has warned Boris Johnson that his hopes of a post-Brexit trade deal rest on first making progress in the already-troubled negotiations with the EU.
Speaking in London, Steven Mnuchin, the US Treasury secretary, insisted he was “optimistic” that the agreement most prized by Brexiteers can be struck by the end of the year.
But he also made clear there were “certain issues” the UK would “need to resolve with the EU”, before Washington could sign up its own deal designed to boost transatlantic trade.
Mr Mnuchin – who clashed with Sajid Javid, the chancellor, in Davos over the UK’s planned digital services tax – also insisted Donald Trump’s administration would not back down in that row.
The two countries are on a collision course after Mr Javid vowed to press ahead with the 2 per cent levy on Google, Facebook and other tech giants, despite the threat of retaliatory US taxes on UK car exports.
“The US feels very strongly that any tax that is designed specifically on digital companies is a discriminatory tax and is not appropriate,” Mr Mnuchin told a Chatham House event in London.
The possible trade war looms as Downing Street seeks a fast-track deal to lower tariffs and other trade barriers with the US – a task the prime minister has insisted will begin immediately after Brexit Day on Friday.
Doubts had already been raised over US willingness to agree a deal without knowing the terms of trade between London and Brussels, which Mr Mnuchin appeared to underline.
Nevertheless, on the potential for a deal, he said: “I’m quite optimistic. We’re focused on trying to get this done this year because we think it’s important to both of us.”
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