Why would we sign a deal that isn't in are interests ?
The USA has the UK as its biggest overseas investor, so it's not as easy as it seems to just to steam roll us.
In this case it will be written directly into are laws, as it near mirrors the EU one, and we will be doing business with them as well it will not be so easy to just give it up.
Biden has said they are looking to the homeland first before he enters any deals with the UK or the EU or anybody else, so unless he is lying it's not something that going to happen any time soon.
As a block the EU makes deals for all 27 members not, the best one for the UK or anybody else(other than Germany/France) in most cases.
A position of strength for a collective do not mean it's the best thing for the all the members,
If we want we can vote out the government, if it becomes as you say a race to the bottom.
It's in are hands, it's up to us what we do with it.
Only problem for me is i don't trust the current government to do the right thing .
Data Protection is likely to be one of the first areas that shows the folly of all this. We need to have regulatory alignment with the EU in order to gain an adequacy decision to allow companies to continue to move personal data across the continent, essential for finance, services, even goods to an extent.
Now, that should actually be fairly straightforward and an early agreement as we already have that alignment.
Countries are working towards regulatory alignment with the EU to allow that sort of data movement. If you look at DP acts across the world they mirror the previous DPA 98 which came from a European Directive also, and places like Japan, Brazil, California, Canada are redrafting laws to ensure that continues.
I'm not saying this bunch of halfwits don't want to tear up the GDPR/DPA 18, but it ain't that simple. And we've had a data protection act in this country since '84.
So back to my opening point, it will be an area of regulation that it'll become quickly apparent that we will need to continue to enforce and match, but have little influence over, when we were in fact a driving force behind it - these laws weren't forced upon us, we were instrumental parts of the process, and in fact often led the way.