Trump’s Huge US-UK Trade Deal: A Jab at EU Protectionism
President Trump has added to the Brexit boiling pot by promising a luxurious US-UK trade deal regardless of the EU’s intentions. In simple terms, Trump condemns the EU’s Protectionism versus countries like the US or China, by enacting emergency tariffs to block subsidies or dumped imports.
Working on major Trade Deal with the United Kingdom. Could be very big & exciting. JOBS! The E.U. is very protectionist with the U.S. STOP!
— Donald J. Trump (@realDonaldTrump) July 25, 2017
Trump also regards his intentions to further strengthen the iconic ‘special relationship’ between the United Kingdom and the United States.
— President Trump (@POTUS) July 25, 2017
Trump’s support of such a trade deal followed UK trade minister Liam Fox’s address to members of Congress during his visit to Washington, designed to start discussions over a trade deal even with EU-US negotiations ongoing during Barack Obama’s presidency being halted during the new administration.
Trump’s comments likely disrupted efforts between the UK Gov’t and Robert Lighthizer – the US trade representitive – in reducing expectations of a US-UK deal in the near future, particularly since opposition to such a trade deal is brewing in the country, on the policy that the UK is not allowed to conduct any trade negotiations outside of the EU’s jurisdiction until Brexit is completed.
Mr Fox’s address to the 435 US congressional districts focused on enforcing the importance of good trade and commerce between the two countries. The commercial relationship between the US and UK currently equals to approximately £150bn, or $200bn annually. Official negotiations could not take place until the UK has formally exited the EU, though Mr Fox is confident in believing that a speedy agreement post-Brexit would be a large benefit, commenting: “We’ll do all the groundwork and due diligence now so that when we do leave the European Union we’ve got a head start on a negotiated agreement.”
With the US Economy flourishing under President Trump – particularly the steady rise of jobs and Dow Jones – a strong trade deal with the real estate mogul’s administration would very much be a great benefit to post-Brexit Britain.