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National security adviser John Bolton. Photo: Peter Nicholls/Reuters

The Trump administration supports a no-deal Brexit and Britain is "first in line" for a trade deal with the U.S., National Security Adviser John Bolton told reporters after meeting with U.K. Prime Minister Boris Johnson, the BBC reports.

"To be clear, in the Trump administration, Britain's constantly at the front of the trade queue, or line as we say. We want to move very quickly. We wish we could have moved further along in this with the prior government."

The state of play: Brexit talks with the European Union have reached an impasse. Johnson wants to renegotiate the terms ahead of Britain's scheduled exit from the EU on Oct. 31. The EU refuses to meet Johnson's demands.

  • The U.K. would leave the EU without a formal transition period or legal agreement on issues including border policy and trade if no deal is reached.
  • Bolton told reporters if the British government opts for a no-deal Brexit, "we would support it enthusiastically," according to Reuters.

The big picture: Bolton said the U.K. and U.S. could sign a series of sector-by-sector free-trade deals ahead of a comprehensive trade agreement as a way of helping the British government cope with the consequences of a no-deal Brexit, according to the Guardian.

"The ultimate end result is a comprehensive trade agreement covering all trading goods and services. But to get to that you could do it sector by sector, and you can do it in a modular fashion. In other words, you can carve out some areas where it might be possible to reach a bilateral agreement very quickly, very straightforwardly."

Go deeper: Everything you need to know about Brexit

Go deeper

1 hour ago - World

Soldiers seize power in Burkina Faso as global coup surge continues

Mutinous soldiers in Burkina Faso declared on state television Monday that they had deposed the government, closed the borders, and taken control of the country. President Roch Marc Christian Kaboré has reportedly been arrested.

The big picture: This would be the third successful military coup in west Africa in eight months, after juntas took power last year in Guinea and in neighboring Mali.

3 hours ago - World

Pentagon: 8,500 troops on high alert for possible deployment to eastern Europe

Photo: Anna Moneymaker/Getty Images

Defense Secretary Lloyd Austin has placed 8,500 U.S. troops on "heightened preparedness to deploy" to eastern Europe in case NATO activates its rapid-response force over tensions with Russia, the Pentagon announced Monday.

Why it matters: No decisions have been made to actually deploy U.S. forces, but the heightened alert level will allow the military to rapidly shore up NATO's eastern flank in the event that Russia invades Ukraine. The Pentagon warned that Russia has shown "no signs of de-escalating," and continues to amass troops on Ukraine's borders.

Updated 3 hours ago - Economy & Business

S&P 500 on track for worst-ever start to year

Data: FactSet; Chart: Axios Visuals

Stocks suffered their steepest drop of the year early Monday, putting the S&P 500 on course for its worst-ever start to a year.

Driving the news: The benchmark S&P 500 dropped for its fifth straight day, with losses nearing 3% in early trading, momentarily putting it on track to fall into a "correction." Some of the steepest losses were recovered in early afternoon trading.

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