UK Business and Trade Secretary Kemi Badenoch and Florida Gov. Ron DeSantis signed a new trade pact on Tuesday in a move that Badenoch said will allow "huge opportunities" within Britain's "rapidly expanding tech sector."
The UK has stated that the deal will focus on fintech, artificial intelligence, and legal services. While state-level trade deals cannot reduce federal tariffs, Florida holds the US' fourth largest GDP — approximately equal to Spain.
Through a trade deal with Florida, Badenoch and the UK has secured another Brexit win. Targeting high-potential sectors within an incredibly wealthy part of the US, the UK's focus on individual state agreements as it continues to search for a broader deal with the US federal government continues to win new opportunities for the British economy.
The UK government's promised US trade deal within three years of 2019 hasn't materialized, and state deals cannot provide the tariff reductions that the UK so desperately desires. While a deal with Florida is positive, there is slow progress in achieving the real agreement that Britain is searching for across the pond.
There's a 1% chance that the UK will rejoin the EU before 2030, according to the Metaculus prediction community.