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Rishi Sunak and Joe Biden seek landmark trade deal before 2024 in major win for Britain

Rishi Sunak and Joe Biden are drawing up a “foundational” post-Brexit UK-US trade deal that could be sealed before both leaders face re-election at the end of 2024.

A fresh round of talks are set to begin later this month, with the early part of the agreement designed to be finalised by spring 2024.

This is according to a report from Politico, citing a leaked draft plan prepared by the US Trade Representative’s (USTR) office at the end of August.

However, the outline deal set out in these papers does not reportedly include the market access commitments required for a formal free trade agreement that would be in line with the views of the World Trade Organization.

But regardless, it would still go much further than anything that has been considered so far.

A person familiar with the discussions told Politico: “We’re discussing and considering a range of things, but all is very much in early stages and nothing has been finalized yet.”

The initiative has been tentatively dubbed the US-UK Trade Partnership Forum (TPF).

It will aim to “negotiate a new, foundational trade agreement to create a permanent mechanism to coordinate and cooperate on trade policy issues of mutual interest and to further deepen existing trade ties” between the two countries.

There could however be stumbling blocks along the way as the Biden administration reportedly wants concessions on agriculture in any deal.

But a UK government official told Politico that the Department for Environment Food and Rural Affairs is “blocking this”.

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