Economics Nobel Prize Winner Criticizes Trump’s NAFTA Negotiations

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.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza