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US-UK alliance seen outweighing Brexit trade concerns

OWON: So having threatened the UK with a diminishing role, as reality dawns on Obuma, what now Tonto as the Buma realises the UK don't need him and nations now invite UK trade free of EU bondage? Will Obuma ever learn?




US-UK alliance seen outweighing Brexit trade concerns


Dawn
By Reuters
28 June 2016

WASHINGTON: The United States (US) looks unlikely to follow through on a threat to relegate Britain to second-class trade status once its ally leaves the European Union, as it weighs the potential costs of undermining the countries close diplomatic and military ties.

President Barack Obama had warned ahead of Thursday's "Brexit" referendum that Britain would move to the back of the queue on US trade priorities if it voted to leave the bloc, well behind a much larger US European trade deal now under negotiation.

But in the face of a severe financial market reaction to the vote to leave the EU, US officials are making more supportive statements about the strength of the US-UK "special relationship" and stressing that they are still analysing the impact of "Brexit" on the European trade talks.

Security and trade experts said Washington is wary of adding to Britain's economic pain, which could hamper its ability to maintain its commitments to Nato and US led efforts to fight terrorism. A poorer Britain may not be able to afford its pledge to spend 2 per cent of its GDP on defence at a time of increasing threats from Russia, nor a new fleet of nuclear submarines that form a key part of the West's nuclear missile deterrent.

"The UK could become smaller and weaker. If that happens, then you wonder if they can sustain the defence spending and the effort to be globally oriented,” Nicholas Burns, a former US ambassador to Nato, told reporters after an Atlantic Council event on Monday.

"That's what we worry about with Britain leaving. Britain was the strongest American partner inside the EU."

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