The US president-elect promises a quick trade deal with the UK after he takes office in four days' time.

Image source, Reuters

Most of the attention leading up to Theresa May's Brexit speech has revolved around the issues of trade and immigration.

But she is being advised not to neglect security and defence as she sketches out her vision of what the UK's relations with Europe will look like after Brexit.

The Royal United Services Institute, external (RUSI) says even after Brexit, the UK will have values and strategic interests in common with the rest of the continent and would benefit from having its own "special relationship" with the EU.

Professor Malcolm Chalmers warns the UK's dependence on a stable Europe will only continue to grow while its influence over common EU foreign policy - particularly in areas such as the Balkans - is likely to decline.

He points to a risk that some decisions affecting the UK - such as Nato's command and control structures - could be taken as a "fait accompli".

During Brexit negotiations, he says the UK should not use its status as a military and intelligence power as a bargaining chip to obtain commercial concessions, because it was vital to demonstrate it remained a reliable partner.

As we count down to Theresa May's much-anticipated Brexit speech tomorrow, do you know your single markets from your customs unions? Can you spot a hard Brexit from a soft one?

It's not too late - the BBC's handy guide explains the different options that are likely to be on the table.

Read it here

The Huffington Post

In a Huffington Post blog, external, Labour peer Stewart Wood offers his own interpretation of Donald Trump's interview

Lord Wood, a former shadow cabinet minister, claims Mr Trump thinks diplomacy as "like golf" and predicts US-China relations will be "the biggest international tension of the Trump years".

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In other political news, Health Secretary Jeremy Hunt has become one of the UK's richest politicians after selling Hotcourses, his privately owned business.

The firm, which runs websites listing courses for students around the world, is being bought for £30m by the Australian firm IDP Education.

Mr Hunt owns a 48% stake in Hotcourses, which is therefore valued at just over £14m.

He said he would use the money to fund campaigns after he leaves politics.

Read the full story

The government's messages about Brexit have been consistent, if thin on detail - so why is the pound so jumpy?

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One interesting footnote from the morning Downing Street lobby briefing is that senior ministers will not be attending Donald Trump's inauguration - or not in an official capacity anyway.

No 10 said it was "usual practice" for the UK's ambassador to Washington, and not government ministers, to represent the country at Friday's event.

Conservative MP Anna Soubry says she is "very worried" by speculation that Theresa May's speech on Tuesday will incorporate the government's negotiating plan and that a separate document will not be published for Parliament to debate before official Brexit negotiations begin. 

Before Christmas, the government agreed to publish more detail of its objectives in response to pressure from Labour, the SNP and some Tory MPs but did not say in what form it would do so. 

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There have been conflicting reactions in Germany and Russia to Donald Trump's interview in the Times.

What has Italy made of it? Judging from the newspaper headlines, there is a combination of excitement and mild trepidation. 

La Repubblica, external suggests the interview contained "something for everyone" while Corriere della Sera, external believes there will be "nothing predictable" about the Trump presidency, with him looking to strike deals on a case-by-case basis, "with no question of affinity or clear alliances".

"Whether this is pragmatism or adventurism, we will soon find out," it says.

La Stampa, external is more downbeat, believing that Mr Trump is "betting on the end of Europe" within the next decade or so. 

Image source, AFP

The European Commission has reiterated that the UK will not be allowed to engage in formal talks of any capacity involving a trade deal with the US, until 2019, when Britain has finished the process of leaving the European Union.

The former UKIP leader and leading Brexit campaigner Nigel Farage, who’s met with president-elect Donald Trump, says he expected a deal to be done within three months of Trump taking office.

Mr Trump, himself, has said he expects an agreement to be reached quickly although he has not out any timeframe on it. 

But speaking to the BBC, a spokeswoman for the European Commission says that “categorically won't be possible”, because formal talks “cannot take place in any official capacity until Britain has finished it’s negotiations".

It's not clear whether he is saying yes or no to wanting to succeed John Bercow...

Stephen Walker
BBC News NI Political Correspondent

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Downing Street remains tight-lipped on whether Theresa May's speech tomorrow will effectively serve as the government's Brexit plan and, if that is the case, whether a formal document will be published.

This is important because many MPs believe only a much more substantial white paper is sufficient to allow sufficient scrutiny by Parliament before the government triggers Article 50 and begins formal negotiations.

Asked about the issue at Monday's lobby briefing for political journalists, her official spokesman said:

On Michael Gove's interview with Donald Trump, Downing Street said it "welcomed the commitment" to secure an early trade deal with the US and there was the potential for "scoping" discussions before Brexit took place. 

Sterling hits its lowest level against the dollar since October's flash crash before later edging back up.

Northern Ireland's first minister Arlene Foster has made a stinging attack on Sinn Fein, suggesting the party is putting the future stability of Northern Ireland at risk amid the ongoing political crisis there.

Ms Foster, the Democratic Unionist Party leader, told reporters Sinn Fein was putting its own interests ahead of the public's by refusing to nominate a successor to Martin McGuiness as her deputy and "forcing" an election.

Ahead of the 17:00 GMT deadline for resolving the crisis, she said what Northern Ireland needed in light of Brexit and a new US administration taking office was stability, not an election that the public didn't want.

She said the Assembly was likely to be dissolved in the next few days and it was "deeply regrettable" that would be no functioning executive. 

She also reiterated her call for a "full, frank and open" inquiry into the Renewable Heating Incentive project which has sparked the likely collapse of Northern Ireland's power-sharing arrangement.