A senior US official has warned Britain against leaving the 28-nation European Union saying such a move would cost London economically.
Michael Froman, the US trade representative, says the UK, in the event of Brexit, would face trade barriers with America just like China, Brazil and India.
Froman stressed that Washington is not after a separate free trade deal (FTA) with Britain in case it leaves the EU bloc. The comments are a complete negation of arguments by Brexit proponents who say that the exit from the EU would help Britain prosper on its own and that London will be able to secure bilateral FTAs with its global trading partners.
According to Froman, EU membership gives Britain more leverage in negotiations. “I think it’s absolutely clear that Britain has a greater voice at the trade table being part of the EU, being part of a larger economic entity,” he said.
The US is Britain’s biggest export market after the EU. In 214, $54bn worth of goods entered in American markets
