Posted on 04/17/2017 12:48:00 PM PDT by 2ndDivisionVet
A U.S.-UK trade agreement would bring little probable benefit to the American economy, although the benefits to a certain Donald Trump could be huge.
Given how tough it is to secure Congress’ approval of trade deals, it is overwhelmingly in America’s interest to muster limited political capital around a path to expanding trade with the much larger markets of the European Union.
But a deal with the British may nonetheless find a fervent champion in President Trump. So far Trump has spoken of a potential agreement warmly but without specifics. By the spring of 2019 Britain will have formally left the European Union, and President Trump will be planning his re-election bid. Both may be in the market for a political win.
Leaving aside most of the troublesome international security and foreign political dossiers on his desk, it doesn’t take much to imagine a global economic strategy in some disarray.
Mexico will have a new president by then, and a renegotiation of the North American Free Trade Agreement will be difficult to conclude as Trump builds his border wall. In spite of his cordial Mar-a-Lago summit with Prime Minister Shinzo Abe, a fresh bilateral trade deal with Japan will not come quickly given the knotty issues surrounding automobiles and agriculture that were only barely agreed to in the context of the now-abandoned Trans-Pacific Partnership, or TPP. Meanwhile, even if an all-out trade war with China is avoided, bitter exchanges will undoubtedly continue over currency manipulation, cyber hacking, steel dumping, and the enduring U.S. trade deficit with China....
(Excerpt) Read more at realclearworld.com ...
Patent BS right from the git-go. the Brits LOVE American goods, especially Budweiser...don't ask!
Budweiser?
“Given how tough it is to secure Congress’ approval of trade deals, it is overwhelmingly in America’s interest to muster limited political capital around a path to expanding trade with the much larger markets of the European Union.”
Years ago all the talk was about having all countries trade on equal terms set by the WTO. Then Brexit comes along and the media is 100% regional trade blocs which discriminate against those outside the bloc.
The comment I remember was that tariff and other barriers between US and UK are already so low that there is little additional upside or downside to any new trade agreement (unless the negotiators are downright evil).
My understanding is that the UK cannot officially negotiate any agreements before Bexit is completed, but I can easily see a scenario where the UK has it’s men inside the Canadian delegation for the negotiation of the replacement treaty for NAFTA, and once Brexit is formally completed they join the Trade block with little to no additional fuss.
Seems like a pointless point. Does anyone think if the US negotiates a new trade agreement with GB, that the EU will refuse to trade with the US? Definitely a situation where they US can and should have both and I don't see Congress refusing either.
And I'd not agree it's so tough to get Congress' approval of trade deals. It was the Trump influence that stopped TPP
Yes...the crappy crap, not the good Czech stuff.
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