The US and UK have signed a new trade agreement that simplifies the process of trading traditional goods while leaving digital trade issues unaddressed.
Features of the New Agreement
According to released information, the trade agreement between the US and UK aims to simplify trade in sectors such as chemicals, energy products, and automobiles. The agreement reduces certain tax rates, expediting the import of American goods into the UK. Notably, this is the first major trade deal the US has made since announcing a new trade policy.
Digital Trade Left Unaddressed
Despite detailed discussions regarding traditional goods, the agreement sidesteps the important area of digital trade, including cryptocurrencies and online services. However, representatives from both countries confirmed that negotiations on this issue would continue. This leaves room for cryptocurrency companies and experts to propose their perspective on crafting economically sound regulations.
Impact of the Agreement on the Crypto Industry
The signed agreement may strengthen ties between the US and UK, providing a more stable foundation for the crypto business. The simplification of trade and close cooperation between large economies could lead to higher levels of trust and reduced risks from sudden changes in legislative norms. Furthermore, this may open opportunities for utilizing blockchain technology in supply chain and international payment areas.
The new trade agreement between the US and UK creates a platform for further discussion on digital trade, allowing the crypto industry to actively participate in shaping future regulations.
