The Nobel Prize-winning economist Joseph Stiglitz has said it would be a “waste of time” for the U.K. to negotiate a trade deal with U.S. President Donald Trump.
Stiglitz said in an interview with the BBC that the U.K. could not put faith in a deal with Trump.
“No, I think it would be a waste of time to begin negotiations with him,” he said. “If you look at what he has been putting forward as a negotiating position in the Nafta discussions you get a feeling of how much of a waste of a time it would be.”
Stiglitz said that Downing Street should focus its efforts instead on the post-Brexit deal with Europe.
“Given the hurdles that the U.K. has in negotiating with the EU… I think it would be just a waste of time for you to use your scarce resources to try to have a trade deal with the United States,” he added.
The U.S. is the U.K.’s second-largest trading partner outside of the EU, importing approximately 20 percent of all Britain’s goods and services.
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