According to Wilbur Ross, the designated US commerce secretary, Britain’s rivals especially Dublin and Frankfurt must take advantage of the golden opportunity presented by Brexit to steal businesses. Ross has said that UK is facing a period of confusion and relocations will soon be inevitable. People are now worried that instead of a free trade deal with the UK, the US could try to exploit the seclusion following the Brexit vote.
The remarks of the billionaire businessman that were featured in The Times are now sowing fear over the so-called special relationships between the US and the UK. The comments were made while addressing an audience of Cypriots financiers’ days following the EU referendum. The comments were made before his appointment in the Trump cabinet.
According to the UK’s Labour Party, the comments of Mr. Ross must be considered as a salutary warning that other countries may take advantage of UK’s vulnerability following the exit from the European Union. Shadow international trade Secretary Barry Gardiner has said that the comments of Mr. Ross are a clear reminder that trade deals with Britain in the future will not depend on goodwill from UK partners but on shrewd economic and political calculations.
The United Kingdom seems weak and vulnerable in the eyes of the world because the government of Theresa May has failed to articulate a coherent vision of what the economy will be in Britain following the Brexit vote. According to more than a dozen officials who are worried over the tensions that will undermine planning for Brexit, Prime Minister Theresa May has increasingly isolated her demands to control all the areas of policy. This has alienated the prime minister from her key colleagues. Instead of goodwill, government figures have given way to division and resentment so that policy mistakes have to be rectified immediately.
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