BREXIT BOOST: Britain ‘to form free trade deal with the US, Canada AND Mexico’
BRITAIN’S post-Brexit trade opportunities have been given a huge boost after the UK looks set to become a member of the North American Free Trade Area.
The trade agreement – known as Nafta – already counts the US, Canada and Mexico as members and Britain could soon join them, almost 20 years after the idea was first proposed.
The plan for the UK to join Nafta was originally put forward by US Senator Newt Gingrich, who is believed to be the frontrunner in the race to become President-elect Donald Trump’s secretary of state.
Despite the proposal first being attacked by the Labour Government in 1998, Gingrich could soon hold high office in Trump’s administration, allowing the idea to return to the table..
Pro-Brexit Tory Jacob Rees-Mogg, said: “What could be bad about it? As long as it does not stop us doing free trade deals with other people too.
“This is one of the great virtues of Brexit – we can look at all these things and if we think they are good we can tag along.”
Trump's election a boost for Brexit claims UK ambassador
This is one of the great virtues of Brexit – we can look at all these things and if we think they are good we can tag along
Fellow Tory, Sir Gerald Howarth, added: “I certainly think if the president is going to review the Nafta arrangement it may well be worth while seeing if there is anything in it for us and them.
“The great merit of where we are now is that we can do whatever we want, subject to having agreement with our counterparties. We do not have to negotiate with the EU any more.”
Trump’s repeated criticism of Nafta during his election campaign has led experts to believe the trade agreement could be transformed, which was supported by Canadian prime minister Justin Trudeau’s claim earlier this week he was willing to renegotiate Nafta once Donald Trump becomes president.
The ‘special relationship’ between the US and the UK looks set to continue after President-elect told Theresa May Britain is “a very, very special place for me and my country”.
A transformed Nafta could help both nations to develop closer trade ties, as well as making the most of the two countries’ similar approaches towards the free market.
It comes after former trade envoy Lord Marland said there was no need for a free trade deal between the two countries as he believes that the “strong alliance” between the US and the UK is enough to ensure good business for the two countries.