US President Donald Trump says he would like to see Mr Biden’s ‘golden rule’ applied to proposed Brexit deal.
He said that if Article 50 does not include financial sector oversight, then it would be too late for Britain to remove it.Mr Biden will be accompanying the US Secretary of State during a visit to Brussels from tomorrow
‘If they don’t have financial regulatory oversight and if they don’t have to get rid of the City of London, if they don’t get rid of the bankers’ licence, it would be too late to address the issue of the City,’ he will say in a speech, according to diplomatic cables, published by WikiLeaks last week.
The leaked documents confirm reports in two embassy cables that cabinet ministers have stressed to the US president the need to carry out a ‘golden rule’ to ensure that Britain does not fall foul of EU rules, raising the prospect of a cross-border EU-UK free trade deal.
Asked at a White House press briefing if he would heed the warning, White House press secretary Sarah Sanders said: ‘That’s how we want to handle it. We don’t want to make any statements that will complicate their relations with each other or the US.‘We want to continue to build relationships with each other, trade it through, and protect the US economy and jobs.’
Mr Biden’s comments will give the US a powerful negotiating hand ahead of a Brexit talks in Brussels later this week.Speaking about the last week of Brexit negotiations, Mr Trump said he would like to see Mr Biden’s ‘golden rule’ applied to negotiations for a post-Brexit trade deal