Obama raised the hackles of the UK’s pro-Brexit campaign - Rabobank

Jane Foley, Senior FX Strategist at Rabobank, notes that the President Obama has raised the hackles of the UK’s pro-Brexit campaign by warning that it could take up to a decade to negotiate a trade deal with the US.

Key Quotes

“The President then moved from the UK to Germany where he and Chancellor Merkel called for talks on the EU/US Transatlantic Trade and Investment Partnership deal to be completed this year.

The negotiations on this deal, which commenced in 2013, have been slow reflecting skepticism in some member states. Elections in both Germany and France in 2017 are set to complicate the outlook for the trade talks if they are not completed this year. France’s Hollande has scored the lowest ever popularity ratings for a serving President and opinion polls put National Front leader Le Pen comfortably ahead in the polls.”