United States Warns Britain Could Face Trade Barriers If It Leaves European Union, Says U.S. Trade Representative Michael Froman
US Trade Representative Michael Froman revealed on Oct. 29 that the United States is not committed to push through a separate free trade agreement with Britain if it decides to leave the European Union, as reported by Reuters.
According to reports, voters are set to decide on a British exit from the EU (Brexit) by the end of 2017.
Supporters of Brexit say Britain could settle its own trade deals with the US if it leaves the bloc, as noted by Financial Times on Wednesday. However, the US trade representative undermines the idea and revealed that the US would have little interest in discussing such deal.
"I think it's absolutely clear that Britain has a greater voice at the trade table being part of the EU, being part of a larger economic entity," Froman told Reuters.
"We're not particularly in the market for FTAs with individual countries. We're building platforms ... that other countries can join over time."
Froman warned Britain could face trade barriers like other countries outside the US if it leaves the European Union.
"We have no FTA with the UK so they would be subject to the same tariffs - and other trade-related measures - as China, or Brazil or India," he said.
Further reports have revealed that Britain will also be deprived on any assistance that might be carried out by trade discussions between the US and Belgium if it leaves the EU.
In addition, US President Barrack Obama and some other US officials reportedly want Britain to remain in the bloc.
During the G7 summit in June, Obama commended the leadership of Britain in the EU. He said that the US is "looking forward to the United Kingdom staying a part of the European Union because we think that its influence is positive not just for Europe but also for the world."
A British exit from EU would mean that the Britain will no longer be part of the Transatlantic Trade and Investment Partnership (TTIP). Aside from this, leaving the bloc could affect the exportation of British cars in the US.
