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Home What are the cons of Brexit?
14 Jul 2022 By PAYCEC
The United Kingdom gains from trade agreements between the EU and other superpowers as a result of membership in the EU. The EU as a whole has more negotiating leverage because its economy is the largest in the world. Therefore, the UK would lose negotiating leverage and unfettered trade with other European nations if it left the EU. The UK may have less favorable outcomes when they attempt to replicate trade agreements with other nations.
Businesses operating in the UK are impacted by the volatility brought on by Brexit and its uncertainty. Tariffs on goods and services in the event of a hard Brexit will raise the cost of importing raw materials into Britain and exporting finished items.
Disclaimer: The above information is from our research and opinion, you should read it for reference, and do not take it as an official source.
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