My daughter and the Bulkley’s made me out to be insane. My neighbors formed a lynch party. Rena sent the Sheriff after me. But, Ian Easton knew I spoke the truth!
If May survives the vote, the leader of America’s No. 1 European ally will now have to present an alternate plan by Monday, or ask to delay the March 29 deadline. But with just 72 days until the U.K. is scheduled to leave the EU, the landslide vote is causing even more economic uncertainty, increasing the prospect of the U.K. crashing out of the EU with no deal in place.
The U.K. is the fourth largest export destination for American goods and services. If there is no Brexit deal, a weakened British pound would make U.S. goods more costly to buy in the U.K.
The U.S. farming and manufacturing sectors could be hit hardest, with the biggest exports including aircraft and machinery, as well as wine and beer, tree nuts, and live animals.
“If this continues, then we’re going to have another recession. We’re going to have another depression. It’s going to mean jobs lost. It’s going to mean economic opportunity forgone – for Americans, for the whole world,” said Shenker Singham of the Institute of Economic Affairs.
The U.S. Chamber of Commerce says the stakes are high for American companies that have invested in the U.K. as a way of accessing the EU markets. Some businesses have opened subsidiaries elsewhere in Europe to make sure they can keep doing business as usual.