https://www.telegraph.co.uk/business/2018/11/27/donald-trump-right-can-choose-either-europe-us-not/
Ever since Theresa May’s ill-fated decision to call an election and the consequent loss of her majority, very little has gone right for Britain’s beleaguered prime minister. Having finally got Brussels to agree some sort of a withdrawal deal, it now seems overwhelmingly likely that her own parliament will brutally vote it down.
As is often the way with middle course strategies, her deal has ended up offending almost everyone. The country, and parliament, are too divided, too entrenched and immovable in their views, to allow for compromise. Remorselessly, apparently irredeemably, we are drifting towards the mother of all political crises, perhaps the biggest of many of our lifetimes. May’s only hope is that Brussels comes to her rescue, and offers sufficient in the way of concessions – say allowing the UK unilaterally to withdraw from the customs backstop – to get her over the line. But it is an increasingly forlorn prospect.
As if things were not bad enough, along comes Donald Trump to deliver, as is his way, the final coup de grâce, insisting in effect that Mrs May’s deal would be incompatible with a meaningful US free trade agreement. Since free trade deals with other parts of the world were meant to be the big economic dividend from Brexit, this is something of a blow.
But it was also only a statement of the bleedin’ obvious; the closer you are to one trading bloc, the less easy it is to strike a deal with another, and that’s precisely the dilemma that Mrs May’s deal has highlighted. By trying to stay close to Europe, she makes it very hard to be close to America at the same time.
Trade was always as much about geopolitical power and heft as the Ricardo-esque textbook ideal of mutually beneficial commercial interaction and progress. We’d like it to be the latter; but the way of the world is the former. Mr Trump has laid this harsh reality bare, demolishing some of the wilder fantasies about “Global Britain”, free to trade as it likes with the rest of the world once released from its European shackles. What Trump is saying is that you can have a deep and meaningful trading relationship with either the US or Europe, but not both; it’s us or them.