British MP Hannan: Free Trade Works Every Time

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European Parliament Member on Theresa May's Brexit speech, global trade

European Parliament member Daniel Hannan on British Prime Minister Theresa May's Brexit speech and the importance of global trade.

Britain's Prime Minister unveiled a plan Tuesday that calls for a clean break from the European Union, but not necessarily a break from Europe. Prime Minister Theresa May said the United Kingdom wants to leave the E.U.’s single market of 500 million people.

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“We seek a new and equal partnership—between an independent, self-governing, global Britain and our friends and allies in the E.U. Not partial membership of the European Union, associate membership of the European Union, or anything that leaves us half-in, half-out,” May said.

The single market allows countries within the E.U. bloc to trade with each other without restrictions.

In an interview with FOX Business Network’s Cavuto: Coast-to-Coast, European Parliament Member Daniel Hannan said Prime Minister May can execute her separation plan from the E.U. while maintaining financially beneficial alliances with European neighbors.

“We have an immediate interest in the prosperity of our European friends,” Hannan said. “You know prosperous neighbors make good customers so the last thing we want to do is leave in a way that is going to the E.U. in chaos.”

Hannan said May has made it clear Britain will live under its own laws and won’t submit to any partial membership.

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To the shock of many, Britain voted to leave the European Union in June 2016, mere months before the U.S. election sent shockwaves throughout the globe as well. Hannan hopes as Trump assumes office, the two countries can come together on a bilateral U.S.-U.K. trade deal.

“The only thing that hasn’t been able to follow up until now is the trade because up to until now, the trade is being control by Brussels rather by us. And I am delighted that the President-elect has indicated that that’s not going to change and that we can form that natural market that ought to exist between us,” Hannan told host Neil Cavuto.

Hannan also weighed in on the trade scuffle between China and Trump, suggesting that a trade war between the two largest economies in the world would be “disastrous.”

“I hope there is a way of remembering what really raised the U.S. to greatness which was engagement to the world commercially. You know buying and selling is something that you guys have been really very good at and where ever it’s practiced always raises living standards for everybody,” he said.

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