The United States of America swore in a new president on Friday morning, the 20th of January. For the first time in more than 100 years, it’s safe to say it’s anyone guess what Trump and the UK will mean, and no one in the world can really say what it means with certainty.
The inauguration itself was marked by boycotts from members of the US Congress, up to 45 based on social media chatter in the days leading up to it.
In addition, women across the globe established protest marches in reference to Trump’s sexist comments revealed via videotape from a decade ago during the campaign. Marches in the UK took place at 14 different locations.
Trump referenced the UK when he declared his inauguration to be “Brexit-plus-plus-plus”, referencing his campaign promise to “drain the swamp” referring to the corruption many feel is rampant in Washington D.C.
So what will all this mean with Trump and the UK? While his mouth might be bigger than his mind, Trump has repeated a few ideas enough times to make it seem like he’s actually going to do them.
Trump has made it clear he’s cancelling America’s participation in the Trans-Pacific Partnership and going after a new NAFTA agreement with border allies Canada and Mexico. Trump has suggested a new trade deal with the UK, calling it a “great thing” while President Barack Obama suggested such a thing would take a long while.
In Trump’s own words regarding a trade with the UK:
“I’m a big fan of the U.K., we’re gonna work very hard to get a deal done quickly and done properly. Good for both sides.”
It seems as if Trump and the UK could potentially be good for trade between the two countries. Only time will tell what eventuates.
The UK financial markets were in upheaval when Trump was elected in early November of 2016. There might be a silver lining however, as Americans dissatisfied with the idea of Trump leading their country were seen on immigration websites for Canada, the UK, and New Zealand. This could mean an influx of businesses headed London’s way.
“We are already seeing a flight to safe haven assets such as gold and prime central London property has always been seen as a safe haven asset in turbulent times,” said Camilla Dell, managing partner at independent property buying agency, Black Brick.
The pound’s plummet against the dollar post-Brexit also has English real estate agents believing Americans seeking to escape Trump and decrease their cost of living at the same time will also turn to England.
Final Words: Trump And The UK
People often wonder what Trump and the UK will mean. The facts are that it’s hard to know for sure because there has never been a US President quite like a Trump. As we mentioned, areas most likely to be impacted are trade and markets but it’s anyone’s guess as to what will happen specifically.
The effect of Trump and the UK remains to be seen but we’ll all be keeping a watchful eye on relations between the two nations.
Are you an international business that conducts part of its operations in the US? Then Trump and the UK may affect you and you may not even realise it.
Get a free quote from one of our lawyers today and see if your business’ operations will be affected in any way possible.