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Brexit Opens Up a Path for a US-UK Free Trade Agreement

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Brexitby Ted Bromund, The Daily Signal

Last week, I was in Brussels to help launch a new report on financial services in Britain and the European Union after Brexit. During that time, we inched a bit closer to the creation of a free trade area between the U.S. and Britain—and I learned a bit about why the EU is standing in the way.

Britain didn’t vote to leave the EU to make itself richer. It voted to leave to get back its right to govern itself. But Europe is a slow-growing part of the world, and that has a lot—not everything, but a lot—to do with bad European policies.

By reclaiming its sovereignty, Britain also took back the ability to choose its own path in taxation, labor, regulatory, and trade policies.

The EU doesn’t like this much. European leaders, such as German Chancellor Angela Merkel, have regularly warned that Britain won’t be allowed full access to the EU’s single market if it doesn’t accept all of the EU’s other obligations. This is what she calls “cherry-picking.”

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© 2018 The Heritage Foundation

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