Obama Backtracks On UK Trade Warning To Limit Brexit Fallout

[Purveyor]

WASHINGTON (AP) -- President Barack Obama is backtracking on his warning that Britain would go to the "back of the queue" for a U.S. trade deal, as he tries to contain the fallout of the U.K.'s decision to leave the European Union.

The shift in tone illustrates how Britain's vote has abruptly scrambled Obama's reality. Where the president had tried to encourage the U.K. not to rashly abandon the European bloc, he now must reassure Britain that its decision to do so won't mean its demise. His priority of locking in trade deals before leaving office now becomes a distant second, behind the more urgent task of restoring confidence in the financial markets and in Europe's future.

"The Obama administration - and a number of leaders in Europe as well - is trying to calm the waters. At this point, there are more questions than answers," said Miriam Sapiro, Obama's former acting trade representative and now an adviser at the strategy firm Finsbury.

Obama's attempt to show support for a struggling ally casts him in the role of forceful free-trade advocate at a time when all of the major presidential candidates running to replace him are vocally opposed. Yet current and former Obama administration officials are operating under the assumption that Democrat Hillary Clinton, if elected, would come around to supporting Obama's trade deals after finding ways to reconcile specific concerns she's raised about jobs, wages and national security.

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http://hosted.ap.org/dynamic/stories/U/US_OBAMA_BRITAIN?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-07-02-14-06-26

[Android3.14]

1. "vocally opposed"

While throwing the 99% off the cliff.

[Wellstone ruled]

2. Larry Fink from BlackRock

supports Clinton,in that the amount of campaign dollars are major from Wall Street . If one had listened to the Interview from the Aspen Institute via Bloomberg on Thursday Morning will Fink,you would have heard that the Wise Guys are working to delay,change,and just plain ignore the Brit Vote. Does not surprise me Mr.Obama would soften his stance. Remember,Kerry and Yew were both in Eourpe earlier this week. And Janet Yellen did not attend one of the EU Commissioners conference.

If Britain does leave the EU,she is toast.

[BlueMTexpat]

3. I don't know about Fink

or the "Wise Guys." But I do know firsthand that there is a prevailing sentiment (perhaps it is simply blind hope) among many expat Brits that Parliament may simply not follow the vote result, although it will not be characterized that way.

The Brexit is indeed an example of the dog that caught the car and then has no idea what to do with it. The "Leavers" were sure that they would lose (note how the idea of having a re-run was posted prior to the results by a "Leaver" so that they could bitch and moan for eternity). In that way, they could continue to blame the EU and "immigrants" for the UK's own disastrous economic and social policies. Without the EU to scapegoat, without any plan for their unexpected win, and with projections of real economic disaster ahead, they are totally crestfallen and bankrupt of ideas, no matter what they say publicly. I love the "Remain" chanters saying, "Fromage, not Farage!"

With their RW lies now being laid open AND with the adverse consequences of Brexit FINALLY beginning to dawn on the UK as a whole, they are literally up SH** Creek without a paddle.

I personally LOVE their dilemma. But I do hope that some way is found so that the UK does not leave the EU.

[Wellstone ruled]

4. Wall Street is having a field day with the

Pound/Sterling knowing the Right Wing Tories are in charge,and are unable to Legislate accordingly. The British Citizens as a whole,are going to see their quality of life go to crap and if one things the Germans or the French are coming to bail them out,for get about it. The Brits are the most disliked folks on the Continent . This whole exercise in bailing out of the EU most likely never happen,but if the Press in Britain keeps pushing their false equivalency thing,then they will tossed out not asked to leave.

[BlueMTexpat]

5. It's hyperbolic to say that

the Brits are "the most disliked folks on the Continent." It is more accurate to state that their RW UKIP types are among the kinds of RWers that are universally despised on the Continent - even though RW Nationalist types have become stronger here as well in recent years, especially in Eastern Europe.

While those in the EU are very frustrated with the Brexit vote being held in the first place and shocked at the results, they blame those things on UK leaders, NOT so much the people - at least, this is what I am able to ascertain from living in Europe.

Yes, on the part of some there is a desire to throw the UK out altogether and immediately - whether Art 50 is invoked or not. But saner heads want whatever happens to happen in an orderly manner and as painlessly as possible. Frothing-at-the-mouth idiots like Farage don't help the situation, but people realize that he is simply a nasty little man with little power in negotiations. He's very bad, but the Brexit silver lining means that they'll never have to see him again.

If it turns out that the better course is to put "Brexit" results on the back burner (and let the Brits stew in their own juices) while other common problems for the EU that should be addressed ARE addressed, I wouldn't be surprised to see that happen. Letting the atmosphere grow less heated might help everyone.

In the meantime, the Grandes Vacances have officially begun in parts of Europe. We have nothing like them in the US. But they do tend to let people have a much-needed rest from all the fighting in the July-August period and just have fun.

I wish that WE did have something comparable in the US.

[Wellstone ruled]

6. When Stock trading starts tonight,

be looking for further toward movement in all British Equities as well as the Money Traders brutalizing the Pound Sterling.

As far as the dislike of persons from Britain,as you say it is the Elites,and like here in the USA,similar things are said of the Elitist persons. Been away from Customer Service for a few years,and do not miss it one bit,no more do you know who I am garbage or I know your Manager.

By the end of this week,the Brits will start seeing their Bank Statements and they are going to be pretty. Next week will bring some major shake ups.