London Calling is a weekly rundown of the top ten emerging issues from the past seven days shaping US-UK commercial relations.

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Memo: London Calling | January 26, 2021

1. Biden and Johnson strike different tones on a trade deal in a call: Bloomberg reports, Johnson and Biden struck different tones on the prospects of a trade deal between their respective countries, as Johnson became the first European leader to receive a phone call since Biden's inauguration.

UK readout mentions trade deal; US statement does not.

2. Much is at stake for Scotland's whisky makers now that Biden is in charge. Since Trump imposed a 25% tariff on sales to America in October 2019, Scotch exports to the US have fallen 30%. For any trade deal, Team Biden is placing a premium on labor laws and green energy.

3. "Is Joe Biden woke?": PM Johnson declined an opportunity to brand Biden as "woke." After Shadow Foreign Secretary Lisa Nandy described Biden as a "woke guy" in an interview with the Guardian, Johnson was asked the same question. "There's nothing wrong with being 'woke," Johnson said in answer to the question, but added, "I would put myself in the category of people who believe that it's important to stick up for your history, your traditions, and your values and things you believe in."

4. Businesses around Britain are coming to terms with Brexit reality. Ian Perkes, who voted Leave, contemplates the possible collapse of his fish exporting business. "Boris came down here and promised us free trade — but this isn't free trade." The deal is far from finished: Britain and the EU will carry on talking for months and probably years to fill in the treaty gaps.

5. Nissan commits to keep making cars in Sunderland: Nissan told the BBC its Sunderland plant is secure for the long term due to the trade deal reached between the UK and the EU. The company will move additional battery production close to the plant, where it has 6,000 direct employees and supports nearly 70,000 jobs in the supply chain.

6. IMF projects 4.5% GDP growth for the United Kingdom in 2021.

7. A constitutional crisis that will strain the Union new polls show as most voters in Scotland and Northern Ireland want referendums on the break-up of Britain. In Northern Ireland, a majority want a referendum about the border within the next five years. Polls also show that voters across Britain expect Scotland to become independent within the next 10 years.

8. Scottish independence attracts young voters who just don't feel British: Alex Massie writes, the UK is, in a quite literal sense, dying. Supporters of Scottish independence have long persuaded themselves that Britain's break-up has become a matter of historical inevitability. The question is when it will happen.

9. Scottish National Party faces legal hurdles to implement #IndyRef2 without Johnson's consent: If a section 30 Order is not granted and the Supreme Court strikes down referendum legislation, it is doubtful that the Scottish government would press on with a so-called "wildcat referendum."

10. A successful vaccination drive is crucial to Boris Johnson's government: Even if COVID targets are met, Johnson will face a fight with his party over how quickly to unwind the current lockdown. Conservatives are also keen that local and mayoral elections scheduled for May proceed