Today the British PM will meet with the newly appointed President ahead of the formal EU-exit expected in March. The government have provided a bill to push through Parliament in order to begin the process of withdrawing from the EU. It is widely anticipated that Parliament will pass the bill, with a majority of Conservative and Labour MP’s in agreement that no effort to thwart the will of the people will be made.
May remains optimistic that trade talks with Trump will be positive, despite clear signs from his inauguration on Friday that America will be at the forefront of any such deal. Concerns have been raised ahead of today’s talks that elements of the NHS may be sold off to US corporations, a point that was raised during PMQ’s yesterday.
But what message does this send to the rest of Europe? Yes UK wants to leave the club but have all the benefits of being a member, this in itself would raise some eye brows amongst European leaders. But the prospect of jumping into bed with Donald Trump will certainly rattle some more feathers.
Pound Sterling continues to post losses during Friday’s trading session, and the tantalising promise of a more Global Britain brings with it an array of side effects. If Theresa May believes the US can offer a trade deal on par with what the UK currently has, she is bound to be very disappointing once today draws to an end.
The UK is in no position to dictate any terms to President Trump, who knows fully well that the UK’s negotiating position is much weaker than his. It’s hard to imagine that any trade deal will be in the interest of the UK. US food safety regulations differ greatly from that of the UK, there poultry for example, is dipped in chlorinated water to kill bacteria. They also permit the use of growth hormones in their beef to buff out the meat, a practice which is highly controversial in the UK.
When details come to light on the trade discussions, I envisage huge disappointments to follow once it becomes apparent that such a trade deal will be at the detriment of the British public, and as a result, the Pound may head back into negative territory in the weeks that follow.