Britain could miss out on billions of pounds of U.S. investment if it leaves the EU, Obama officials warn




Britain risks losing out on £10billion a year in trade deals if the UK withdraws from the European Union, the Obama administration has warned.
US officials have told their British counterparts that a vote to leave would exclude the UK from a transatlantic free trade deal which leaders hope to thrash out later this year.

American diplomats believe it will be very difficult to get the so-called Transatlantic Trade and Investment Partnership – which could generate hundreds of billions of pounds worth of trade – through the US Senate.
In a warning shot, they have made clear they would be very unlikely to strike a separate deal with Britain if the UK votes to quit the EU.
Negotiations are due to start within weeks and David Cameron hopes to give it a boost when he hosts the G8 summit in Northern Ireland next week.


But US officials have told the Mail that many US Congressmen, keen to protect local industries from competition from Europe, are suspicious of the plans.
Downing Street officials were cock a hoop on Mr Cameron’s recent trip to Washington when President Barack Obama publicly backed his policy of renegotiating Britain’s role in Brussels before holding a referendum.

Privately American officials have said they want Britain to remain in the EU, angering many Tory MPs.
Gary Hufbauer, a former US Treasury official, said the Obama administration’s hopes of securing a trade deal would be sunk by a British exit from the EU.


‘If the UK separates from the EU, I think will go a long way to derail the TTIP project,’ he said.
■ UKIP would beat Labour and the Tories in the European elections according to a poll, with 27 per cent of those certain to vote saying they would back them. Labour had 23 per cent support and the Tories 21 per cent.
If a referendum on Britain’s membership of the EU was held now, 37 per cent would vote to stay in compared to 41 per cent who wanted an immediate exit, the ComRes survey showed.