How do you solve a problem like Donald, Theresa?

It has been a bit of a train wreck so far, hasn't it? However, whilst the air of chaos that surrounds the new incumbent in the White House shows no signs of abating, he is getting a worrying amount done. And, if you're a European or even British, what he has done so far is cause for some perturbation.

On trade, whilst there are perhaps grounds for axing the Trans Pacific Partnership, in doing so the way he has, he has undermined key relationships in a volatile region, where China seeks to maximise its power, soft and hard. If the Japanese and the South Koreans, in particular, sense that America is not engaged, they will be obliged to take a more respectful stance towards China. And, from the perspective of his near neighbourhood, his ruthless jettisoning of TPP, and the attempts to bully Mexico, spell trouble for NAFTA.

It does not augur well for a UK/US trade agreement, does it?

Now I accept that Trump has expressed a desire to do a deal, and heaven only knows that the Brexiteers desperately want to believe that he means it, but the problem is that he has a history of making deals that end badly for the other party and, more worryingly, for a bunch of innocent bystanders too. If he can bully the other side, he will, especially when they're desperate. And boy, are we going to be desperate.

It is already becoming apparent that a number of key potential partners, India, China, Australia, for example, are happy to do deals, but that relative freedom of movement comes with any such arrangements. Can Theresa May get over her hang-ups over migration figures, and even if she can, what will those who voted Brexit to cut migration think about being poorer AND having a bunch of foreigners coming into the country?

So, 'white' countries it will have to be. An all encompassing deal with the 'evil' European Union seems unlikely, and Australia and New Zealand are relatively small economies far away. That only really leaves the America Firsters, led by a man with a hair trigger ego advised by a man who wants to bring everything down. That's certainly not a negotiation I would enter with confidence and, to make matters worse, we already run a trade surplus with the US. Donald won't like that.

Oh yes, we could cut a deal with the rather sclerotic Japanese economy, or try to sell agricultural goods to the Koreans, but you can see our options withering away unless we're willing to compromise. And that, it seems, the Brexiteers are uncomfortable with.

It does, potentially, get worse. If the trend towards regional blocs continues, being outside of them all may make you nimbler, but it also makes you lonely and vulnerable to protectionism. And, you may have to sacrifice parts of your social model if national wealth diminishes in real terms, or grows less strongly than it might otherwise have done. There'll be plenty of people who voted for Brexit who won't like that either.

Now, is Theresa lying awake at night worrying about this? I suspect not. The more charitable might suggest that, as she is a woman of principle, doing what she believes to be the right thing, she has no reason to worry. In any event, the Opposition are insipid, or fragmented, or too few in number to really hurt her. I have a nasty feeling that she doesn't have the imagination to work out how badly this could (and I emphasise could) end up. If she did, she certainly wouldn't be able to sleep easily at night.

No, a combination of the Administration's apparent retreat from the strong dollar, a headstrong President and his belief that deals should favour America, leaves the British trade team with a potentially very challenging assignment. And we're fielding Liam Fox.

We're doomed, aren't we?...