Barack Obama, President for the US has stated that it could take as long as 10 years for the UK to negotiate trade deals with the country, should it leave the EU at the upcoming referendum on June 23, 2016, adding that the UK would be ‘pushed to the back of the queue for trade, according to the BBC.
Barrack Obama said: “It could be five years from now, 10 years from now before we were able to actually get something done. The UK would not be able to negotiate something with the United States faster than the EU. We wouldn't abandon our efforts to negotiate a trade deal with our largest trading partner, the European market.”
However, Boris Johnson, Mayor of London, said in Sky News: “I think it is absolutely ridiculous that the UK is now being told it has to go to the back of the queue for any free trade deal.”
According to the World Economic Forum, 60% of the 28,270 Europeans questioned preferred Britain to stay.
— World Economic Forum (@wef) April 24, 2016
PTI previously reported on how a reworking of trade agreements, as a result of Britain’s exit from the EU, could cause problems for the UK shipping sector.
The UK is currently deciding whether it wants to stay or leave the EU.
Those in favour of Britain staying in the EU believe that the country will be able to better trade and cooperate with the EU.
The people wanting to leave argue that the EU places too many regulations on the British economy.