Re:UK votes to leave EU
by lettergram on Friday June 24, 2016 @12:14AM
(#11966328)
How bad do you think this is going to be? The majority of trade for the UK is with commonwealth countries and the U.S. both of which are unrelated to the EU.
[ Parent
| on HN ]
https://www.uktradeinfo.com/Statistics/OverseasTradeStatisti...
Non-EU Exports for April 2016 were £13.0 billion. EU Exports for April 2016 were £12.0 billion.
Non-EU Imports for April 2016 were £21.9 billion. EU Imports for April 2016 were £19.1 billion.
Re:UK votes to leave EU
by sandworm101 on Friday June 24, 2016 @12:30AM
(#11966457)
Props for using actual numbers, something that was very lacking in this process.
Re:UK votes to leave EU
by lettergram on Friday June 24, 2016 @01:07AM
(#11966720)
My bad, it was much closer than I thought. I do recall that the majority prior to joining the EU was with commonwealth nations.
Regardless, it's not like materials to trade disappears... my guess would be the UK negotiates with the EU to basically keep trade the same. If not the UK will be increase exports elsewhere.
Re:UK votes to leave EU
by matthewmacleod on Friday June 24, 2016 @03:04AM
(#11967360)
That's the point though - keeping trade rules the same implicitly means keeping things like free movement and acceptance of EU regulation.
It's far from clear that the UK will be able to sort this out easily.
Re:UK votes to leave EU
by tonyedgecombe on Friday June 24, 2016 @10:21AM
(#11969943)
Especially since the electorate thought they were voting against free movement.
Re:UK votes to leave EU
by sandworm101 on Friday June 24, 2016 @12:22AM
(#11966392)
It will be as bad as France, Germany, Poland and everyone else wants it to be. Decisions as to how to tax/regulate and/or block trade with Britain are now out of Britain's hands.
Those commonwealth countries (Canada) also trade with the EU. Whether they will choose to favour britain or not is also open. We'll get back to you on that one.
Re:UK votes to leave EU
by lettergram on Friday June 24, 2016 @01:09AM
(#11966737)
Pretty sure trade agreements with the commonwealth remain unchanged. Basically, you don't choose to trade, if an agreement is in place the companies choose to do trade. With a weaker pound it would be cheaper to buy goods from the UK.