Back in 2016, former US President Barack Obama caused a stir in the UK when he suggested that the country would be at the “back of the queue” for a trade deal with the US if it decided to leave the European Union. The statement was met with criticism from some pro-Brexit supporters, but Obama’s prediction has now proven to be entirely accurate. As the UK struggles to secure a trade deal with the US, many are reconsidering the decision to leave the EU and the potential consequences it may have on the country’s economy. In this article, we take a closer look at how Obama’s statement has ultimately played out and what it means for the UK’s future.
In 2016, former US President Barack Obama caused controversy during a visit to Britain by warning that if the country left the European Union, it would be at the “back of the queue” in any trade deal with the US. This angered Brexiteers who saw it as meddling in a domestic issue. However, Obama argued that he had the right to respond to claims that the UK could easily secure a new trade deal with the US that would supersede their trading arrangements with the EU. His warning has proven accurate as a trade deal with the US is not currently on the agenda for the UK, and relations with Washington have remained strained since Brexit. UK Prime Minister Rishi Sunak is pushing for a narrower pact covering “critical minerals” as a way to gain access to some of the large green subsidies offered under President Joe Biden’s Inflation Reduction Act. The UK’s trade deals to date have either been the same as ones they had as a member of the EU or in some cases inimical to its interests. Leaving the EU has shrunk the UK economy by 5% and damaged trade with the EU while aggravating inflation and employment shortages. Ipsos polling in January showed that 45% of the population thought Brexit had made their daily life worse, with just 11% saying it had improved it.
In conclusion, Obama’s warning to the UK regarding Brexit has been proven right. His remark about being at the ‘back of the queue’ in trade deals with the US has come to pass. The UK’s decision to leave the EU has had far-reaching implications for the country’s economy and international relations. It remains to be seen how the UK will navigate these waters going forward. But one thing is certain: the repercussions of the Brexit vote will continue to reverberate for years to come.
