International Finance
Economy

Obama warns against Brexit

Says it may take Britain a decade to strike a deal with the US April 26, 2016: Barack Obama, in possibly his last visit to the UK as US President, warned that it could take up to a decade for Britain to strike a deal with America if Brexit becomes a reality. At the end of his three-day visit, Obama said it was wrong for...

Says it may take Britain a decade to strike a deal with the US

April 26, 2016: Barack Obama, in possibly his last visit to the UK as US President, warned that it could take up to a decade for Britain to strike a deal with America if Brexit becomes a reality.

At the end of his three-day visit, Obama said it was wrong for Brexit campaigners to suggest it would be straightforward to agree to a new trade relationship if Britain left the EU.

Obama told the BBC that Britain would not get preferential treatment over the EU when it came to negotiating a new trade deal. He said, “The UK would not be able to negotiate something with the United States faster than the EU. We wouldn’t abandon our efforts to negotiate a trade deal with our largest trading partner, the European market.”

He added that he does not expect his comments to influence or change the mind of hardliners but ‘normal people who care what the President of the US thinks about Brexit’.

His comments came as US presidential hopeful Hillary Clinton also threw her weight behind the campaign to keep Britain in the EU in a major new boost to UK Prime Minister David Cameron’s remain campaign.

Understandably, the US intervention has left many leave campaigners angry. According to the group, Britain can easily negotiate better terms outside the EU.

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