Donald Trump wants a US-UK trade deal “very quickly” Donald Trump will offer Britain a quick and “fair” trade deal with America within weeks of taking office to help make Brexit a “great thing”. Speaking to The Times in his first UK interview as president-elect, he revealed that he was inviting Theresa May to visit him “right after” he gets into the White House and wants a trade agreement between the two countries secured “very quickly”. Mr Trump also predicted that other countries would follow Britain’s lead in leaving the European Union, claiming it had been deeply damaged by the migration crisis. – The Times (£) Michael Gove’s write-up of his interview with Donald Trump – The Times (£) Trump says UK ‘doing great’ after Brexit vote – BBC Fraser Nelson: Michael Gove’s interview with Donald Trump: main points – Fraser Nelson for the The Spectator’s Coffee House blog Theresa May’s speech to warn EU of risk of giving UK a raw Brexit deal Theresa May will aim to strike a defiant tone in her upcoming Brexit speech on the risks to the rest of the EU of giving Britain a raw deal, echoing the combative approach taken by the chancellor. In a speech by the prime minister on Tuesday that will be watched closely in EU capitals, Downing Street is keen to impress that there are potentially lucrative economic opportunities elsewhere, weeks before the UK is expected to trigger article 50. Philip Hammond, in an interview with German newspaper Welt am Sonntag, warned that Britain would “do whatever we have to do” to regain competitiveness and appeared to accept that the UK was prepared to become a tax haven if necessary. – The Guardian A source has said that she intends to go for “the full works” with Brexit and ignore pleas from bitter Remoaners, including former Tory minister Anna Soubry, Lib Dem ex-Deputy Prime Minister Nick Clegg and former Labour leader Ed Miliband, to stay in the both the single market and customs union and be bound by Brussels rulings. – Daily Express Pound falls ahead of Theresa May Brexit speech – BBC Britain will ‘not take it lying down’ if UK is banned from EU markets after Brexit says Philip Hammond… Britain could suffer from having no access to the European Union’s markets after Brexit and “will not take it lying down”, Philip Hammond has admitted. The Chancellor admitted in an interview with a German magazine that the “UK we could suffer from economic damage at least in the short-term” if it is left with no access to the EU. But he suggested that Britain could cut taxes to encourage companies to move to the UK if it were shut out from trading with the EU. – Daily Telegraph Philip Hammond offers hard truths to the Germans – City A.M. Philip Hammond is right to warn that we won’t simply roll over if they try to stiff us over Brexit – The Sun Says …as Jeremy Corbyn accuses him of spoiling for a trade war with the EU… Jeremy Corbyn has warned Philip Hammond risks igniting a “trade war” with Europe over his strategy for Britain’s exit from the European Union… Mr Corbyn said the Prime Minister “seems to be heading in the direction of a bargain-basement economy on the shores of Europe, where we have low levels of corporate taxation. We will lose access to half our export market”. He also sharply criticised a warning by the Chancellor that the Government could retaliate by slashing corporation tax if UK firms faced new tariff barriers outside the EU… Mr Corbyn added: “He appears to making some sort of threat to the European community saying, ‘Well, if you don’t give us exactly what we want, we’re going to become this strange entity on the shores of Europe’. It seems to me a recipe for some kind of trade war with Europe in the future.” – The Independent …and fails again to explain Labour’s post-Brexit immigration policy Labour was plunged into fresh chaos as Emily Thornberry said the party won’t “die in a ditch” to defend unlimited EU migration. The Shadow Foreign Secretary said free movement rules were “up for negotiation” but the economy was more important. Speaking on ITV’s Peston on Sunday, she said: “We’re not going to die in a ditch about it.” The comments came just moments after Jeremy Corbyn once more refused to say EU migration was too high. And he said: “Let’s not blame the migrants for the problems that we have.” – The Sun > WATCH on BrexitCentral’s YouTube Channel: Jeremy Corbyn struggles to explain to Andrew Marr what Labour’s policy on immigration from the EU will be post-Brexit Square mile wakes up to new Brexit reality The City is shifting to a new focus on best possible access to Europe’s Single Market, rather than pinning hopes on continued membership of the trading bloc, as it prepares for the Prime Minister to announce a so-called clean Brexit tomorrow. In a much anticipated speech, Theresa May is expected to make clear the UK’s willingness to quit the Single Market in order to regain control of the country’s borders and forge new trade deals. Since the referendum, the City has warned of the need for continued access to the Single Market. However, the tone has shifted in recent months, away from one which was fighting tooth and nail for rights like passporting to one that is more open to other options. – City A.M. Political deadlock in Northern Ireland will not delay Brexit, says James Brokenshire The political chaos in Northern Ireland will fail to delay Brexit, Secretary of State James Brokenshire declared yesterday. The Tory Minister admitted it was “probable” elections will have to be held in the province. The Stormont Government will collapse unless a replacement can be found for Sinn Fein’s Martin McGuinness by 5pm today. But Mr Brokenshire insisted “nothing” will delay the triggering of Article 50 by the end of March – which begins a formal two-year period of EU divorce talks. Campaigners have warned it would be impossible to stick to the timetable if the Northern Irish Assembly is not sitting. – The Sun ECB and UK urged to share regulation of euro clearing market The UK should give more powers to the European Central Bank to oversee the City’s prized euro clearing business and head off a controversy that threatens to split the global derivatives market, according one of its main lobbying groups. In return, the ECB should consider sharing supervision of clearing houses with the UK to address any systemic risk concerns, the Financial Service Negotiation Forum (FSNForum) argues in a report published on Monday. It said that this joint approach of supervision over a market of global systemic importance would “avoid further accusations of ‘fortress Europe’”. – FT (£) Burberry sales are soaring as wealthy Chinese visitors indulge in post-Brexit shopping sprees Fashion house Burberry is set to reveal a sales rise thanks to surging demand for luxury goods after the fall in the pound. The chain is hugely popular with rich Chinese buyers and has been aggressively expanding in Asia, which accounts for a quarter of sales. Far Eastern luxury spending suffered early last year as concerns grew for China’s economy, hurting high-end clothes firms. – Daily Mail Policy Exchange publishes blueprint for leaving the customs union and single market In a major contribution to the public debate on Brexit, Policy Exchange’s Chief Economic Advisor, Dr Gerard Lyons, and leading Telegraph economics commentator, Liam Halligan, have set out proposals for a ‘Clean Brexit’. Former Conservative Chancellor Lord Lawson and former Labour Foreign Secretary Lord Owen have written in support of the paper’s arguments. Ahead of an expected speech on Brexit by the Prime Minister this week, the paper proposes key negotiating principles for the Government to set out before it triggers Article 50, including making it clear to the EU now that the United Kingdom will leave the Customs Union and the Single Market. – Policy Exchange Rishi Sunak MP: Why Britain must leave the Customs Union French customs authorities boasted in 2014, their average time taken to check goods was four minutes seven seconds, hardly a deal breaker for British exporters. Countries don’t need a Customs Union to trade efficiently with each other. Norway does 70 per cent of its trade with the EU, Canada and America trade half a trillion dollars of goods annually, and China buys 30 per cent of Australia’s exports. None have formed Customs Unions. Britain is the world’s fifth largest economy, NATO’s second largest military power, and the world’s leading financial centre. Have we really lost such confidence that we would rather be a second class member of the European Union than strike out to be one of the first-class nations of the world? If the answer is no, the Customs Union can only hold us back. Let’s cut it loose before it does. – Rishi Sunak MP for ConservativeHome John Redwood: Why we will leave the single market and the customs union – John Redwood’s Diary Matt Ridley: Britain must carry the torch for free trade Theresa May will be making a mistake if she thinks Sunderland and Detroit have the same priorities. One is an export-dependent city with one of the most efficient car plants in the world; the other is fixated on the threat to its home market from foreign competition. It is becoming clearer by the day that the biggest problem for the North of England has been an overvalued exchange rate, driven by our capital-attracting capital. Just by voting to leave, we have improved the terms of trade for the north. When the history of this decade comes to be written, we may conclude that in voting to leave the European Union as it drifts towards the economic and political rocks, Britain has averted rather than experienced a populist revolution and the election of a demagogue. We have prevented the installation of a British Trump, or — for that matter — Farage. – Matt Ridley for The Times (£) Johan Eliasch: Theresa May’s big Brexit speech should be very easy. Here’s why… Even the most contentious issue, free movement, can be addressed, using reciprocal quota arrangements that relate the right of EU and UK citizens to live in the UK or the EU to the availability of different types of work… The British Government should make an offer on this basis directly to the French and German governments. And it should insist that all this is settled as part of the withdrawal agreement, not a separate deal. – Johan Eliasch for the Daily Telegraph (£) Rachel Cunliffe: Britain’s Brexit fuse is burning dangerously short Instead of fabricating absurd, modish fantasies such as the “Shared Society” (dear God!), Theresa May should have got us out of the Euroslum by now. Patience is running thin. We have had government in the interests of Islington and Notting Hill for long enough; it is time now for Sunderland and, imminently, Stoke-on-Trent to have their say. We should have been a non-EU state by now. If Theresa May imagines the public will tolerate a further two years of phoney, superfluous negotiations, or continuing membership, associate or otherwise, of the Single Market or any other EU institution, she is even more deluded than her predecessor. – Rachel Cunliffe for Reaction Leo McKinstry: There is a plan – and Brexit really does mean Brexit It was a clear statement of intent, a demonstration of her resolve to implement the wishes of the British people. Yet ever since then the phrase has been relentlessly mocked by her critics. They sneer that it is nothing more than a meaningless slogan designed to conceal the emptiness of her policy on Europe. The Remain brigade, still unable to accept the referendum outcome, argues that her line is part of a wider failure that has turned Brexit into “a mess” and a “shambles” because of the supposed absence of any clear plan for Britain’s departure. – Daily Express Brexit in Brief British Future launches “Brexit Together” manifesto backed by Remain and Leave voices – British Future Jeremy Heywood: Theresa May’s Brexit enforcer – Politico London’s tallest residential tower development ‘still viable’ despite Brexit – ITV Brexit prompts ‘mini-export boom’ for British tea industry as interest in ‘all things’ English grows – Radio Australia