British beef and lamb will back on the menu in the US by January after reaching a draft agreement with the UK, the Government will announce on Wednesday.

The Daily Telegraph can reveal that the US will once again import British red meats nearly two decades after they were deemed unfit for consumption and banned during the height of the UK's "mad cow disease" scandal.

The decision is set to be the UK's first major foreign trade deal reached since the vote to leave the EU, and will boost the economy by £35 million a year according to estimates by the Department for Environment, Food and Rural Affairs.