What does a Trump Presidency mean for Britain’s Brexit trade deal with US?

Mr Trump‘s trade adviser has previously said the UK is a “friend” of America and will be front of the queue for an arrangement with the world’s largest economy,

Dan DiMicco said Britain would be a higher priority for a deal than the European Union (EU). 

Last year Britain imported more than £32billion of US goods, while the UK exported £38bn of goods to America, according to HM Revenue and Customs data. 

When recently asked if the US would do a deal with Britain ahead of the EU split, Mr DiMicco said: “Absolutely.”

He said: “First off they are our friends, they have always supported us, and we’ve worked together, and they are leaving the EU in our estimation for the right reasons.

“They have lost control of their economy, the job creation engine, so why shouldn’t we be working with like-minded people before we do a deal with anybody else?” 

Mr DiMicco also said Britain is leaving the EU for the right reasons. 

The comments are in stark contrast to outgoing President Barack Obama ahead of the referendum, who said Britain would go to the “back of the queue” for a trade deal with the US if it voted to leave the EU. 

In the run-up to the election, Mr Trump vowed to place huge tariffs on Mexican and Chinese imports of up to 35 per cent, as part of a big protectionist drive. 

Mr Trump’s presidency could now mean an overhaul of the global free trade system.

Mr DiMicco previously said: “Things have gotten so bad that we will leave Nafta [the North American Free Trade Agreement], WTO [the World Trade Organisation] and the Korean Free Trade Agreement if we can’t get a fair deal.”

He added: “The system was gamed for whatever reasons to begin with, the gaming’s got to be removed, and it’s got to be balanced for the American worker, American business, the American economy and trade deals are going to be walked away from if they can’t be renegotiated to the point where they are net-positive for our GDP and they are positive for our good-paying job growth.”

Leave a Reply