Obama Wants UK to Stay in EU

Obama publicly entering the fray to argue against a so-called Brexit. In an op-ed published ahead of his visit by The Telegraph, a UK-based newspaper, Obama warned about the dangers of a UK exit from the European Union, while acknowledging that the decision “is a matter for British voters to decide for yourselves.”

The outcome of the 23 June vote is a subject deeply important to Washington, arguing that the UK’s role as a global leader is enhanced by being part of a “strong Europe,” one that actually increases London’s influence.

Examples of this, Obama added, range from international leadership on climate change to the benefits to the UK of being part of the EU’s single market and a player in the 28-nation bloc’s trade negotiations with third countries, such as the US.

“And the Transatlantic Trade and Investment Partnership with the EU will advance our values and our interests, and establish the high-standard, pro-worker rules for trade and commerce in the 21st century economy,” Obama continued.

Though the comments were welcomed by Cameron and other politicians in favour of the UK continuing in the EU, campaigners supporting a “Brexit” lambasted the US leader’s remarks, with some arguing that Washington would never cede its own sovereignty in that way.

A report published by HM Treasury earlier this month said that a vote in favour of a UK exit would leave the country “permanently poorer,” analysing alternatives that included either a Norway-style membership of the European Economic Area; a Swiss-style bilateral pact; or just being a fellow WTO member without a specific trade deal with the EU.

Obama: UK-US trade deal would not happen “anytime soon”

Should UK voters decide in June against staying in the European Union, they would also not be assured of a trade deal with the US in the near-term – contrary to what some pro-Brexit campaigners argue – according to Obama.

Obama explained that Washington prefers negotiating with several countries to have access to larger markets, such as the TTIP with the 28-nation EU, rather than pursuing “piecemeal” pacts, which he suggested were “hugely inefficient” as a strategy.

The US leader’s remarks echo the warnings raised by his top trade negotiator, US Trade Representative Michael Froman, who has regularly said that Washington is not interested in trade deals with individual countries.