Good morning from the Financial Times.

Today is Wednesday, July 22nd.

This is your FT News briefing.

The UK is abandoning hope of a speedy trade deal with the US,

and Donald Trump has a warning on how the

pandemic will progress in the United States. Plus Latin America is at the

center of the coronavirus pandemic. The F.T.'s Michael Stott will explain why economists are

warning of a new debt crisis. I'm Mark Filipino and here's the news you need to start your

day. Last year the British government set out to fast track a treat agreement with the US. The idea was that a deal would be done by

late summer of this year. It was supposed to be an early win for the UK on leaving

the European Union. But things have turned out differently, and officials have given up hope that a deal will be done by late summer.

In fact, senior government figures told the F.T. that there will be no comprehensive deal with the U.S.

before the presidential election in early November.

Officials blame the coronavirus pandemic for the slow progress, but the two sides are also

still grappling over long-running contentious issues,

such as whether to allow U.S. agricultural products

into the UK market.

A third round of talks will start on Monday,

but neither side expects a conclusive breakthrough.

U.S. Secretary of State Mike Pompeo discussed the negotiations as he met with Prime Minister Boris Johnson

and other senior UK politicians in London yesterday.

He said he wanted to quote,

...