Trump looks forward to negotiating ‘large scale’ trade deal with UK
The US President Donald Trump said that he is looking forward to negotiating a comprehensive trade deal with the UK as Westminster struggles to secure a Brexit deal with the EU.
On Thursday, US President Donald Trump said that he is excited about the prospect of agreeing a ‘large scale’ trade agreement with the UK, as the country’s government struggles to secure a Brexit deal with the EU and looks to delay Article 50.
When and, increasingly if, the UK leaves the bloc it will have to negotiate its own trade deals with countries around the world, including the US, with Trump’s comments showing his support for Brexit.
US-UK trade deal has ‘unlimited’ potential
In a tweet Trump said: ‘My administration looks forward to negotiating a large scale Trade Deal with the United Kingdom. The potential is unlimited!’
His comments come as the US Trade Representative’s office announced that it plans to launch talks with the UK if it leaves the EU on March 29, with the organisation eager to agree a comprehensive deal that will include reduced and non-tariff barriers for US industrial and agricultural goods.
Since taking office, Trump has sought to renegotiate trade deals with China, Mexico, Canada and the EU in a bid to align of the US economy in line with his America First campaign.
UK government looks to extend Article 50
Despite Trump’s eagerness to redraft a trade deal with the UK on March 29, he may have to wait a little longer before he can do so, with the British MPs will vote on Thursday evening on whether to extend Article 50 and delay Brexit.
The decision to delay Britain’s departure from the EU comes after MPs in parliament rejected UK Prime Minister Theresa May’s revised Brexit deal on Tuesday and voted to take a no-deal exit off the table in a non-binding vote on Wednesday.
See an opportunity to trade?
Go long or short on more than 16,000 markets with IG.
Spread bet and trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
You might be interested in…
Find out what charges your trades could incur with our transparent fee structure.
Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.
Stay on top of upcoming market-moving events with our customisable economic calendar.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.