Both US, UK had 'political will' to complete deal by July 2020 as the US election cycle starts soon afterwards, sources added.
London: Amid uncertainty around UK's withdrawal from the European Union, Prime Minister Boris Johnson and US President Donald Trump have agreed to strike a bilateral trade deal by July next year.
Local media, citing government sources, said that two leaders are expected to hold negotiations on the trade deal on the sidelines of the 74th UN General Assembly in New York where they could announce their plans, reported Sputnik.
Both the US and UK had the 'political will' to complete the deal by July 2020 as the US election cycle starts soon afterwards, the sources added.
Earlier this month, US Vice President Mike Pence asserted that Trump was willing to begin negotiating a free trade agreement with the United Kingdom as soon as London was ready.
Meanwhile, Johnson, on September 5, said that he would not ask the EU to delay Brexit beyond October 31.
"I'm confident that I can, but to leave on Oct 31 in all circumstances so that the country can move on," the prime minister said in a video posted on his official twitter handle.
Since assuming office in July, Johnson has time and again outlined his aim to make the UK leave the EU by October 31 with or without a deal.