If one goes by words of Lord Francis Maude, the former trade minister, Britain is in an excellent position to make a trade deal with the United States outside the European Union. The former is interested to do more number of deals after BREXIT. The US is incidentally the UK's largest trading partner. This is needed as the present Translantic Trade and Investment Partnership or TTIP talks between the European Union and the United States have almost reached the end. A number of European politicians have declared negotiations between the two countries to be non-existent. Lord Maude holds the belief that since UK was the principal driving force in talks, it could be resurrected as a new United Kingdom-United States treaty.
According to Lord Maude, who is a veteran politician, the TTIP negotiations does not look good. However, since a lot of work has already been done, it will not be that difficult to piece together a deal with the US. He also expressed the confidence that Americans will also be keen to work with the British Government. Lord Maude added that since both sides are knowledgeable about the issues, and there are people working on the TTIP, he is confident that a solution can be found.
A big chunk of the problem is that the European Union is forced to accommodate competing demands from its member states-all 28 of them. For the UK- since it is alone- this is not a problem. There is also no need, as per Lord Maude, for such deals to be perfect. EU trade negotiations imply a quest for everything- a factor which can be hard to satisfy. One of the many sore points in the TTTIP was that the French and a few other countries insisted that the United States scrap their purchase of American products through the public procurement rule. The latter is not agreeing to that and hence there is no point to make it the absolute condition. It is easier to find out what is possible- and do it. It makes more sense to quickly get a good agreement and not wait for a perfect one.
President Barack Obama of the United States had said during the referendum campaign that Britain would be pushed to back of the line if its voters chose to exit the EU. However, since the president is on his way out, that particular obstacle would cease to exist and if Lord Maude is to be believed, his successor will be extremely interested to make a deal.