US-UK Trade Deal Gets Wall Street’s Stamp of Approval—Just Don’t Ask About the Fine Print

SIFMA and BAFA just rubber-stamped the latest transatlantic trade agreement—because nothing says ’progress’ like financial lobbyists nodding in unison.

Behind the handshakes: The usual suspects quietly carving out loopholes for cross-border data flows and regulatory arbitrage. London and New York’s financial elites win again, while Main Street picks up the tab.

The kicker? This ’groundbreaking’ deal somehow manages to be both revolutionary and entirely predictable—just like every other trade agreement written by bankers, for bankers.

The British American Finance Alliance, which SIFMA’s President and CEO Kenneth E. Bentsen, Jr. co-chairs with Chris Hayward, Deputy Chair, TheCityUK Board and Policy Chairman of the City of London Corporation released the following statement regarding the TRUMP Administration’s announcement of a trade agreement with the UK:

“This is a landmark trade agreement, and we congratulate both sides on delivering a package that will help strengthen the transatlantic relationship, of which financial and related professional services are a critical part. We encourage the U.S. and UK authorities to continue to work together to broaden and deepen this agreement and believe our unique partnership in financial and related professional services WOULD benefit from closer alignment in technological innovation and other areas.”