The US has suspended its UK tariffs as of today on goods from scotch whiskies, machinery, cashmere, and yes – cheese and pork. The suspension will last for four months, during which time the sides will negotiate a long term solution to the US-EU Boeing Airbus dispute. This is exclusively a US-UK deal, US tariffs remain on EU goods…

Trade Secretary Liz Truss took a risk by unilaterally lifting UK tariffs to the US – which opposition parties heavily criticised her for – now the move has paid off. Guido understands that it was only as a consequence of good faith lifting UK tariffs that the US came to the negotiating table and lifted theirs too. Meanwhile the EU has sat on their hands and tariffs still apply to them…

Clearly this sort of deal would be impossible as a member of the EU, trapped behind its common external tariff and sluggish commissioners. Read the Brexit-enabled UK-US joint statement here…