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Details of Trump-UK talks emerge

Matt Dunham / AP

A new trade deal between the U.S. and the U.K. is shaping up to be the key focus of Trump's meetings with U.K. Prime Minister Teresa May when the two meet Jan. 27.

The Sunday Telegraph says the talks could include an agreement to give U.S. and U.K. companies free reign to operate across the border with limited regulatory hurdles. It could be set up within 90 days of the U.K. leaving the EU.

  • British banks already have a deal like that, called "passporting," with the EU which lets the banks operate in any member country with one set of regulations The Telegraph says losing that arrangement might send billions of pounds from British banks to Paris or Frankfurt

Trump officials told Bloomberg that quick work on a trade deal with the U.S. will give May more leverage in Brexit negotiations; she'll be able to say the U.K. will prosper with closer U.S. ties despite losing EU membership.

The long game: Steve Bannon and Jared Kushner were behind pushing May to the front of the line for a U.S. visit, Jonathan Swan reported yesterday.

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