Obama Quashes Prospect of Fast-Track Brexit UK-U.S. Trade Deal

U.S. President Barack Obama offered Britain little hope of a fast-track post-Brexit trade deal on Sunday, but said he would work to ensure the economic relationship between the two does not unravel after the British vote to leave the European Union.

Obama met with British Prime Minister Theresa May at the start of a G20 summit in China as Britain embarks on the long process of reinventing itself as an independent trading nation following the shock June EU referendum outcome.

Obama, who in April used a visit to London to tell Britain it would be at the back of the queue for a trade deal if it left the EU, met with May for the first time since she became prime minister to discuss Brexit and other global challenges.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.