Brexit Will they be okay?
In a referendum held on June 23rd, 2016, the majority of the United Kingdom voted to split off from the European Union. The citizens decided that the benefits outweigh the stability of the union. For example, belonging to a monetary body was no longer outweighed by free movement of immagration. The citizens voted 17.4 million in favor of leaving, versus 15.1 million who wanted to remain part of the EU.
On March 29th, 2017, the former Prime Minister of the U.K., Theresa May, submitted Article 50 withdrawal notification to the European Union. Article 50 states that “”Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements”. In the article, it said it gave the U.K. and EU until March 29th, 2019, to figure out an agreement. The EU has pushed back that deadline to October 31st, 2019.
Recently, on July 24, 2019, Boris Johnson replaced Theresa May as the Prime Minister. Johnson Johnson has since promised to make Brexit happen by the October deadline. Queen Elizabeth II, on August 28th, approved Johnsons request to shut down parliament between September 11th and October 14th.
Johnson wants to shut down parliament so that he can have more control over his opponents, and make sure Brexit isn’t stopped. The Prime Minister’s office confirmed that parliamentary business will be stopped after September 16th’s session, which means that lawmakers can’t sit, debate or pass laws until October 14th.
As of right now, the U.K will automatically split off from the EU at 11 p.m. on October 31 without a withdrawal agreement to make sure there is a smooth transition.
Although it might seem like this won’t completely affect the U.S, we have a trade deal with the U.K. U.S goods and services with the U.K totaled $262.3 billion in 2018. Exports were numbered at $141.1 billion and imports at 121.2 billion, totalling to the U.S goods and services surplus of $19.9 billion in 2018. Trump has promised the U.K a “phenomenal” trade deal post Brexit, but many people are questioning that.