TRADE DEAL WITH THE USA IS NOT THAT EASY

I have mentioned on a few occasions that Boris Johnson is deluded to expect a favourable trade deal with the US on the grounds of a special relationship that he believes Britain has with the USA.
Now Bill Clinton’s former Treasury Secretary warned two days ago that this is not the case.

Larry Summers, who was also Director of the National Economic Council under President Barack Obama, said the desperate UK has no leverage in any trade negotiations and it needs an agreement very soon.
Speaking on BBC Radio 4’s Today Programme, Mr Summers said, ‘I am not sure what Britain wants from the United States that it can plausibly imagine the United States will give.
‘If Britain thinks that American financial regulators, who have great difficulty coming together on anything, are going to come together to give greater permissions and less regulations of UK firms, I would call that belief close to delusional.’
He added, ‘Look at it from America’s point of view. Britain has much less to give than Europe as a whole did, therefore less reason for the United States to make concessions. You make more concessions dealing with a wealthy man than you do dealing with a poor man.
‘Secondly Britain has no leverage. Britain is desperate. Britain has nothing else. It needs an agreement very soon. When you have a desperate partner, that’s when you strike the hardest bargain.
‘The last thing you do is quit a job before you look for your new one. In the same way, establishing absolutely that, as a matter of sacred principles, your leaving Europe has to be the worst way to give you leverage with any new potential partners.’
US Senator Tom Cotton, however, said Britain should be at the front of the queue for a deal with the US. Mr Cotton said, ‘Many of my colleagues in congress would say that Great Britain should be in the front of the queue, given everything our nations have gone through together.

‘Obviously it wouldn’t be a matter of days or weeks for such negotiations. It might be months, but I will suspect it will be months not years.’
I wish I could believe it. Theresa May took three years to negotiate with the EU without success, why should Boris who has so far alienated a number of people since becoming PM, simply because of his pompous attitude and his use of threats which are in the circumstances laughable.
Britain needs all the help she can get through diplomacy and good will, otherwise calamity will follow.

 
I pray that the future is much rosier than I suspect.

Comments are closed.