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10

2019 Only 6% Of Cross- Johnson And Trump ‘Gung-Ho’
For US/UK Trade Deal
28th, Donald

August Border Traders Trump is
“ v e r y

| Prepared For No-Deal gung-ho” a
about
EXAMINER major UK-
US
trade
deal, Boris
J o h n s o n
IRISH said after
the
two
leaders had
their first
formal meeting.
The UK Prime Minister was praised by the US President
as the “right man for the job” of delivering Brexit and was
promised a “very big trade deal” as the pair met in the mar-
gins of the G7 summit in Biarritz.
But Mr Johnson played down the prospects of a transat-
lantic deal being concluded within a year, as he believes
Washington wants.
He warned that a deal with the “protectionist” US would
s few as 6% of cross-border ing arrangements and are more with busy firms on many lev- not be “plain sailing”.
traders are prepared for likely to be reliant on the cross- els.” In a sign of the close relationship between the two lead-
Acash-flowissuesintheevent border market as their only InterTradeIreland highlight- ers, Mr Trump said he had long held his positive views on
of a no-deal Brexit, a report has export destination. ed its online Bitesize Brexit, a Mr Johnson’s suitability for being Prime Minister, which
found. The latest research also tool for cross-border traders “didn’t make your predecessor very happy”.
New research has found that shows continuity of supply is an which details specific actions Both leaders were keen to stress their desire for a trade
most are choosing to disregard additional problem that could that businesses can take to pre- deal after the UK has left the European Union.
the potential impact a no-deal hinder cross-border businesses pare for Brexit. The president said: “We’re going to do a very big trade
Brexit could bring. and the ability to trade, but In a statement from the deal, bigger than we’ve ever had with the UK and now at
While the UK is due to leave fewer than one in ten have Department of Business, some point they won’t have the obstacle, they won’t have
the EU on October 31, only 6% taken steps to interrogate their Enterprise and Innovation, a the anchor around their ankle, because that’s what they
of cross-border businesses have supply chain. spokeswoman said it has been have.”
But Mr Johnson has raised a series of areas where he
examined the possible legal Tariffs are a further issue working with companies for wants concessions from Washington.
implications for business con- that could strike at the viability more than two years to raise The president said he wanted a deal done “quickly”
tracts. of SMEs (small and medium- awareness of the key Brexit because in the past he had been “stymied” under Theresa
Cross-border body sized enterprises) in the event of challenges. May.
InterTradeIreland said that the a hard Brexit. The statement said: “The He added: “This is a different person and this is a person
consequences of market access InterTradeIreland’s latest department’s ongoing engage- that’s going to be a great Prime Minister, in my opinion.”
changes could mean firms are business monitor highlighted ment and research indicates But Mr Johnson told the president there would be
exposed to significant addition- that just 12% of SMEs that trade that the proportion of business- “tough talks” ahead.
al costs. across the border have looked es preparing for Brexit is Asked if he had made clear his views on protecting the
The trade body found that at the possible impact of extra increasing, particularly among NHS and animal welfare standards in trade talks with Mr
just 6% of cross-border traders taxes on their business. those businesses identified as Trump, the Prime Minister told the PA news agency:
are prepared for cash flow and Mr Gough said that most exposed to Brexit-related “There is complete unanimity on that point.”
The UK Prime Minister also warned Mr Trump against
liquidity issues in the event of a InterTradeIreland has launched impacts, and that awareness of escalating his trade war with China.
no-deal Brexit. a new campaign to encourage the key Brexit challenges is also “We are in favor of trade peace on the whole,” he said as
They have urged business cross-border traders to plan for increasing. the two leaders and their teams had a working breakfast at
owners to take steps to protect Brexit, adding that the research “Almost 60% of Irish SMEs the Hotel du Palais.
themselves. underlines the need for compa- report a good understanding of In a series of broadcast interviews, Mr Johnson played
Aidan Gough, nies to start acting now. the likely implications of Brexit down the prospect of a rapid deal.
InterTradeIreland’s designated “We want to reach as many impacts that are relevant to He told ITV: “There’s an opportunity to do a great free
officer and director of strategy SMEs as possible to help them their business.” trade deal with the United States.
and policy, said: “Ignoring prepare, that’s why The department said that a “The president is very gung-ho about that and so am I.”
Brexit is a bigger issue than not InterTradeIreland is launching survey carried out in February But he added that “I don’t think people realize quite how
preparing for it. our new campaign,” he added. this year suggested that plan- protectionist” the US market can be.
“Failing to take into account “This will be a significant ning for Brexit is increasing, “They want to do it within a year, I’d love to do it with-
how it may impact your busi- departure for with almost half of SMEs saying in a year, but that’s a very fast timetable,” he said.
ness could be very detrimental InterTradeIreland. they have taken “some form of The two leaders agreed to set up a working group
down the line.” “It recognizes that Brexit is engagement” to prepare for focused on closer economic links.
US director of the National Economic Council Larry
There are about 20,000 the elephant in the room and Brexit. Kudlow and UK Cabinet Secretary Sir Mark Sedwill have
cross-border traders on the with the deadline of October 31 “Among the most impacted been directed to set up the special relationship economic
island of Ireland. fast approaching, Brexit is now businesses, progress is also working group (SREWG).
A substantial proportion of just too big to brush under the being made, for example more “The SREWG will develop market-oriented principles
these are micro-businesses, carpet. than half of exporters indicate for economic growth and increase bilateral cooperation on
which are particularly vulnera- “We think this approach and that they have a Brexit plan,” issues related to the modern 21st century economy,” the
ble to changes in current trad- striking visuals will resonate the statement added. C White House and Number 10 said in a joint statement. C