A senior economic adviser to US President-elect Donald Trump has recommended that Britain should prioritize closer economic ties with the United States rather than seeking to strengthen its relationship with the European Union (EU). Speaking on BBC radio, Stephen Moore criticized the EU’s “socialist model” and emphasized that the US would be less inclined to engage in a free trade agreement with the UK if Britain continued to focus its economic efforts on the EU.
Moore argued that the UK is currently caught between two competing economic models, suggesting that a shift towards the US model of economic freedom would be more beneficial for the country. He further stated that such a shift could increase the Trump administration’s willingness to negotiate a free trade deal with the UK.
Meanwhile, Bank of England Governor Andrew Bailey on Thursday encouraged Britain’s Labour government to rebuild its relationship with the EU. Although the government has ruled out rejoining the EU’s single market or customs union, Prime Minister Keir Starmer has expressed interest in improving diplomatic and trade relations with the bloc.
At the same event, Finance Minister Rachel Reeves also discussed the need for Britain to “reset” its relationship with the EU, while expressing a desire to collaborate with the Trump administration to strengthen trade ties. Despite not directly commenting on the US election results, Bailey’s speech reflected global concerns regarding the potential impact of Trump’s victory and the possibility of new tariffs on goods imported by the United States.
