BREAKING NEWS

Now Reading:

Trump administration 'keen on fast trade deal with Britain'


economy

Trump administration 'keen on fast trade deal with Britain'

ALL VIEWS

Tap to find out

Britain will reportedly be in the “front seat” to negotiate a new trade deal with the incoming administration of Donald Trump.

That is according to a top Republican – Senate Foreign Relations Committee Chairman Bob Corker – quoted by the BBC.

After meeting British Foreign Secretary Boris Johnson Corker said that a trade deal between the two countries would be a priority as Britain prepares to leave the European Union.

On returning from the United States Johnson told the UK parliament: “I have to say to the house that there is a huge fund of goodwill for the United Kingdom on Capitol Hill and a very large measure of understanding that now is the time to do a free trade deal. They want to do it and they want to do it fast and that understanding was most vivid and most urgent on the part of the incoming administration.”

Britain cannot sign any trade deal with the US until it leaves the EU which under current plans will likely be in 2019.

Banks shift lobbying focus to EU

At the same time banks with large London operations has said they will step up their lobbying of EU officials over the financial industry’s access to the single European market.

They will target French politicians, EU regulators and government officials to explain that Europe will harm itself if Brexit is used to undermine London’s position as the region’s main financial centre.

“The battle for Britain is over, the battle for France is about to begin,” one senior lobbyist told Reuters.

The banks’ focus is shifting because after scores of meetings and research reports they feel they are running out of new points to make.

Prime Minister Theresa May said on Sunday she was not interested in Britain keeping “bits” of its EU membership, interpreted by some as signalling she will favour immigration controls over access to the single market.

The banks say they may begin moving staff and operations out of London in the next few months if there is no clarity on the issue.

ALL VIEWS

Tap to find out

economy

China seeks balance between growth and debt