Lord Stirrup
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Lord Leong (Lab)
I thank my noble friend for that question. The US is our single largest trading partner, amounting to well over £300 billion last year. We have invested close to £1.2 trillion in both our economies, and employ almost 1 million people. The US is a country that we have to deal with, and our businesses ask us to work with the US.
Lord Stirrup (CB)
My Lords, clearly President Trump will link his economic relations to wider policy objectives. One of the policy objectives that he will be looking for in this country, as well as in others within Europe, will be for European nations to take a much greater share of the burden for their own security. At present, this country and other European partners are doing that far too little and far too slowly.
Lord Leong (Lab)
I thank the noble and gallant Lord for that question. I do not think we should get ahead of ourselves. The President is being sworn in at this very moment. We will be looking towards working with his Administration. Any discussions about defence or trade will have to wait until his Government get in.