Why trade pacts with the US are no big deal

aS the presidential circus moves on, Barack Obama has left the Prime Minister and the Remain camp squirming with pleasure. Indeed, he has done everything they asked of him and more. Not only did he make the highly questionable claim that EU membership ‘magnifies’ the UK’s influence. he even parroted Number 10’s language, warning that a UK outside the EU would be sent to the ‘back of the queue’ for a trade deal with the US (note the English usage ‘queue’, rather than the american ‘line’).

true, he retreated a little yesterday, saying all he meant was that it could take five or ten years for an independent UK to reach a trade agreement. But even if this is true (a big if), hasn’t his interference left a grossly misleading impression? Leave aside that Mr Obama won’t be around to decide anything after he stands down next January.

Listening to him, anyone might think countries without formal trade deals are barred from exchanging goods and services, or that UKUS commerce would dry up if we pulled out.

But the truth is that the EU has never had such a deal with america (though Brussels is working on a draft, which Germany’s economy minister admitted yesterday may come to nothing).

this has never stopped countries, in or out of the EU, from trading with the US under World trade Organisation rules. ask any Briton who uses Google, amazon or an apple iPhone – or any american airline using RollsRoyce engines or New Yorker buying British music or clothes.

Indeed, if Britain were to pull out, nothing would change about our trading relationship with america – except that we’d be free to negotiate bilateral terms that suit us, rather than Brussels.

as for security cooperation, even Mr Obama now admits this wouldn’t be affected by our withdrawal.

Meanwhile, EU politicians press ahead with plans for a federal superstate which, should we vote to remain, will suck us ever more deeply under Brussels’s sway – not just for five or ten years, but as far ahead as anyone can see.

after Mr Obama’s meddlesome visit, the question remains unchanged: is this what we really want?