What is the negative aftermath of the Brexit vote?
There are arguments that the indivisibility claim is not based on any economic foundation since the trade barriers would affect both the EU and the UK. There is a high quality of goods in the UK that export to other countries around the world, the top being to the United States, Netherlands, France, Ireland, and China, marking revenue of £147.9bn from the EU in 2014. According to the parliament briefing paper, the annual worth of the UK-EU trade is £495 billion. The UK is dependent on the automotive industry of Europe; the UK derives 3% of its income from this industry. Following Brexit, the UK will no longer be able to trade freely with the EU. The companies that are still wanting to trade with the UK will have to follow the EU regulations; the disadvantage of this is that the UK will no longer have power over these regulations, therefore, will not be able to take part in any negotiations.
The UK was benefiting hugely from the EU as they had agreements with more than 50 states however, the UK will now enter separate agreements with these states to ensure the trading between them. This will no longer benefit the EU-Japan agreement that is worth £13 billion.