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Seeking post-Brexit calm, Obama walks back UK trade warning

6 months 2 weeks 2 days ago July 02, 2016 Jul 2, 2016 Saturday, July 02 2016 July 02, 2016 2:17 PM in News
Source: Associated Press
By: ApNewsNow

WASHINGTON - When Britain was considering leaving the European Union, President Barack Obama urged its citizens to consider the full ramifications, including going to the "back of the queue" for a U.S. trade deal.

Now that Britain is on its way out, Obama is walking back from that warning. As he tries to contain the fallout, he's insisting the relationship with Britain will be no worse off.

The shift in tone illustrates how Britain's vote has abruptly scrambled Obama's reality.

Where Obama had tried to encourage Britain not to abandon the European bloc, he now must reassure it that to do so won't mean its demise. His goal of locking in trade deals before leaving office now is now less urgent than restoring confidence in the financial markets and in Europe's future.

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