WASHINGTON: US President Donald Trump said he has initiated talks about a “very substantial” trade deal with the UK.

A bilateral deal with post-Brexit Britain could lead to a “three to four, five times” increase in current trade, Trump said following a phone call with Boris Johnson on Friday.

Both Johnson and Trump said they would begin negotiations “as soon as possible” after the UK leaves the EU, Downing Street said.

The phone conversation comes after the American ambassador to the UK, Woody Johnson, said relations between the US and UK would be “sensational” now Johnson was in Downing Street.

A supporter of Brexit, Trump was critical of Theresa May’s negotiations with the EU. He welcomed Johnson’s rise to power, even suggesting he was a “British Trump”.

As a member of the EU, the UK is part of about 40 trade agreements the EU has with more than 70 countries. The EU does not have a trade agreement with the US.

(Agencies)