EUROPE has a “vital interest” in securing an open and wide-reaching trade deal with Britain because of its pivotal role in trans-Atlantic trade and investment, a landmark report concludes today.

Economic experts said Brussels would be foolish not to seek favourable terms with the UK, which is by far the biggest focus for American economic interests on the continent.

Britain accounts for an astonishing 22 per cent of all US investment in Europe – which includes non-EU states like Switzerland and Russia – a whopping 10 times greater than France and Germany.

And it is the top destination for both trade and investment flowing across the Atlantic, with most US businesses choosing Britain as their main base in Europe.

A report by the American Chamber of Commerce (AmCham) concludes that Brexit could put this status under threat, but says it would be in the best interests of America if the UK and EU seal a comprehensive trade deal.

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