The Latest: US ready for 'attractive' trade deal with UK

The Latest: US ready for 'attractive' trade deal with UK
Soldiers guard the annual meeting of the World Economic Forum in Davos, Switzerland, Thursday, Jan. 25, 2018, hours before U.S. President Donald Trump is scheduled to arrive at the forum. (AP Photo/Markus Schreiber)

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local):

10:50 a.m.

U.S. Treasury Secretary Steven Mnuchin says the U.S. is ready to negotiate an “attractive” trade deal with Britain once the country has left the European Union.

At the World Economic Forum, Mnuchin said the U.S. is first looking to see a “successful transition that’s good for the U.K., good for the markets.”

The British government is about to begin discussions about the future relationship with the EU after Brexit. First it’s looking to agree on a transition period after Brexit in March 2019 that make the exit less abrupt.

While within the EU, the U.K. cannot negotiate separate trade deals with other countries.

Mnuchin said that once the “U.K. is ready, we are prepared to negotiate an attractive trade deal.”

He added that President Donald Trump has already said Britain will be at the “front of the line” in trade negotiations.


10:40 a.m.

President Donald Trump’s homeland security adviser says the United States would prefer that Turkish troops “remove themselves” from a conflict in the Syrian border town of Afrin, and appealed to President Recep Tayyip Erdogan to focus on “longer-term strategic goals” of a peaceable Syria.

Speaking at the World Economic Forum in Davos, Switzerland, before Trump’s imminent arrival, Tom Bossert said Turkey “ought to be mindful of the potential for escalation as they move into Syria and Afrin.”

The United States has previously expressed concerns about Turkish efforts against the Kurdish-led SDF forces that drove Islamic State fighters from much of northeastern Syria with the help of a U.S.-led coalition.

Bossert said Thursday it would be a “terrible outcome” if Turkish troops clashed with “the proxy forces that we have all been relying on to defeat ISIS, especially if there are U.S. advisers in the region.”

He said: “There could be grave consequences to any miscalculation and escalation.”


9:10 a.m.

U.S. Treasury Secretary Steven Mnuchin says the U.S is “not concerned” about the value of the dollar in the short-term.

At a press briefing at the World Economic Forum on Thursday, Mnuchin said the short-term value of the dollar is dependent on many factors in what is a very liquid market.

In the longer-term, he said, the U.S. currency’s value will be determined by the underlying strength of the U.S. economy.

On Wednesday, Mnuchin sparked a big dollar sell-off when he said the recent fall in the value of the dollar was “good” for trade. The euro, for example, spiked to a three-year high.

Mnuchin insisted Thursday that his comment on the dollar was “balanced and consistent.”