![]() business community invested heavily in Britain, but the country has been a gateway to the rest of Europe. Hard BrexitĪ hard Brexit means leaving the EU, the single market and the customs union, and it would require making all new agreements on trade. Depending on how the issue plays out, there will be various effects on U.S. A revote on Brexit is unlikely to take place for months, but it continues to loom as a possibility. The Prime Minister’s plan includes a strong trade agreement, but it doesn’t allow restriction of immigration, a major motivation of those who voted for Brexit. ![]() Hardliners in favor of Brexit fear that possibility, and they’re also concerned about being forced to accept a flawed exit deal. Recent polls indicate that if a referendum were held today, Brexit would be overturned. #British exit eu affectus markets fullProponents of holding a new vote argue that British citizens didn’t understand the full economic implications of a withdrawal from the EU. ![]() May has put forth a plan for Brexit that’s unacceptable to Parliament and may even lead to a repeat referendum that could overturn the mandate. Parliament shot down the idea of a “no-deal exit”, a blow to the influence of Prime Minister Theresa May, and has voted to delay the exit indefinitely until an agreement is in place. The problems that will be created in business and commerce if Britain completes withdrawal from the EU without a trade agreement are substantial. The British exit from the EU, or “Brexit”, is supposed to be completed this month, but there have been stumbling blocks in the past two years that make this a thorny issue for the government. This move was primarily influenced by rising nationalism among citizens that included objections to EU liberal immigration policies. It’s been two years since the British voted to no longer participate in the European Union economic compact. ![]()
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