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So... what does Trump's win mean for Brexit?

President-elect Donald Trump described himself as "Mr Brexit", and his extraordinary election cou...
Newstalk
Newstalk

16.47 9 Nov 2016


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 So... what does Trump&#39...

So... what does Trump's win mean for Brexit?

Newstalk
Newstalk

16.47 9 Nov 2016


Share this article


President-elect Donald Trump described himself as "Mr Brexit", and his extraordinary election could transform the context for Theresa May's overall Brexit plan.

The combination of his win and the maintenance of Republican control over both Houses of Congress gives a clean sweep for his own agenda.

Broadly it is focused at home, but his new approach to trade creates opportunities and problems for Britain's efforts to change its relationship with the rest of the world.

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The new US President faces a sceptical world, but clearly believes that Brexit Britain is both trailblazer and kindred spirit for his "anti-elite" political revolution. That could enable a fast-track trade arrangement.

Paul Ryan as Speaker of the House has close relations with senior Conservatives in the UK and soon after Brexit called for "discussions with Great Britain to ease concerns so that we do have a smooth trade relationship with Great Britain... our indispensable ally".

This could be one of the areas where Mr Trump can carry his fellow Republicans.

So the prospect of being near the "front of a queue" rather than behind the EU and Trans-Pacific Partnership is now very real.

Hillary Clinton would have almost certainly made a beeline for Berlin and Chancellor Angela Merkel as her first visit as President, Mr Trump may well focus on London.

He has expressed scepticism about the European Union, and described his own electoral earthquake as "Brexit times five, Brexit times ten".

However, it is impossible to escape his wider plans which involve ripping up some of the international trading architecture.

He is a critic of the World Trade Organisation, in particular China's membership terms.

Mr Trump wants to renegotiate the North American Free Trade Agreement deal with Canada and Mexico.

He repeatedly told voters that China and Mexico were stealing US jobs and "stealing US prosperity".

During the campaign he actively threatened tariffs against China. His team believes that world powers who compete with the US manipulate their currencies in order to boost their exports.

He has threatened to use trade tariffs to "end trade wars" that are already in existence, by what seems to many as starting trade wars.

It is very difficult not to see his election as part of a backlash against globalisation, which could fundamentally alter the architecture of the world economy.

A number of Irish politicians have spoke to Newstalk.com and likened Trump's victory to the Brexit vote and expressed fears over the economic implications for the US vote for the Irish economy.

IRN


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