Economy

Hopes of a good deal with Trump are ‘delusional’ says U.S. economist

Hopes of a good deal with Trump are ‘delusional’ says U.S. economist

The Taoiseach said in the wake of a no-deal Brexit future talks on a trading relationship will not start until citizen's rights, the financial settlement and the Irish border are resolved.

According to the U.S. Census Bureau, Britain has been one of the top 10 trading partners for the past decade and almost 43,000 companies export to the U.K. In the first five months of this year, two-way trade between the nations amounted to $54.9 billion.

He wrote: "I wish to urge you to carefully consider a possible basic contradiction within the EU-UK Withdrawal Treaty which has so far prevented a majority of British MPs approving it in its present form".

"I think there are some risks but we can manage them", he replied.

British foreign minister Dominic Raab said on Wednesday after a meeting with U.S. President Donald Trump that there was a huge appetite for forging a post-Brexit trade deal between the two countries but it still would require a lot of work.

Standing at Raab's side, Pompeo said Washington supports London's "sovereign choice" in withdrawing from the European Union, whatever happens.

Mr Johnson, clearly enjoying warmer relations with Mr Trump than his predecessor, Mrs Theresa May, is hoping that he can clinch a swift deal that can send a message of Britain's ability to strike out on its own.

The Irish economy is considered the most vulnerable among remaining European Union members to Brexit and Ireland faces a 12-fold rise in the number of import and export declarations made by local companies in the event of a no-deal British exit.

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Leading members of US Congress have warned that they will block any UK-US trade deal if Boris Johnson's administration endangers the Good Friday Agreement.

The Foreign Office said Mr Raab met the president and Vice President Mike Pence in Washington on Tuesday evening on the second leg of his tour of North America.

"We appreciate the president's warmth and enthusiasm for the UK-US relationship", Raab said in a statement after their White House meeting.

"The UK looks forward to working with our American friends to reach a free trade deal that is good for both countries, and co-operating on the common security challenges we face".

"The US is our biggest trading partner and we have more than $1 trillion invested in each other's economies".

The foreign secretary traveled to the U.S. with International Trade Secretary Liz Truss, who will meet her United States counterpart Wilbur Ross this week.

"They are simply saying "No, we don't want to talk".