Trade negotiations between the UK and the US have officially started. And in the UK it’s a key moment for Brexit architects: one of their big arguments for leaving the EU, was that the UK would have freedom to establish its own trading terms with countries like America.

We invited Stryker McGuire, the London editor of Bloomberg Markets magazine, and dual US UK citizen, to give us his take on what to expect from this round of negotiations.

According to him, not only are these talks unlikely to reap rewards anytime soon, but one side, has got everything to lose.