If US firms are worried about the UK’s access to the EU single market, why don’t they join the talks?
AmCham EU says many US companies are based in the UK because of its role as ‘a gateway to the single market’ [Image: Linda Nylind for the Guardian].
But if those firms are now concerned about that access being closed, why don’t the United States add their own voice to the Brexit negotiations?
It must be in everybody’s best interests to ensure that there are no barriers to trade between two of the largest markets in the world.
It will be no good at all if America sits on the sidelines, does nothing, and then berates us if we fail to get a good deal as a result.
A report commissioned by US businesses in Europe has warned Theresa May ahead of article 50 negotiations that American investment in the UK, worth £487bn in 2015, has been largely based on the country’s EU membership and access to the single market.
The study commissioned by the American Chamber of Commerce to the EU (AmCham EU) has called for Britain to recognise the limitations of any free trade deal with the US alone, and warns of the dangers posed in building barriers to trade between the UK and the wider continent.
It says the importance of the European market to US firms in Britain means that “both the US and the UK have more to gain from achieving some agreement with the EU than simply with each other”. The report suggested the record £487bn US firms invested in the UK in 2015 had been imperilled by the UK government’s intention to withdraw from the single market.
Source: US businesses warn the UK over loss of access to EU single market | Politics | The Guardian
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The potential for economic suicide is plain for all to see. What a nasty mess the Tories have landed us all in.
I suspect that May, despite her apparent adulation of Trump, would balk at anyone from the US sticking their noses into “her” business. It was oft (but not oft enough) pointed out by Remain campaigners that huge swathes of companies, not just US ones, only based themselves in the UK for EU access. Just another “insignificant” issue to Boris et al.