#US economy#European Union#Brexit#EU referendum#United Kingdom

What does Brexit mean for America?

Sumit Modi
|Jun 24|magazine3 min read

Brexit - the campaign for the United Kingdom to leave the European Union - has won out against the Remain campaign.

What does this mean for the US?

American officials have repeatedly stated that it was a decision only the British could make, but President Obama has remained realistic in stating that the issue is a matter of interest to the States. 

Speaking alongside British Prime Minister David Cameron in London in April, the President referred to the EU referendum as: "a matter of deep interest to the United States because it affects our prospects as well. The United States wants a strong United Kingdom as a partner. And the United Kingdom is at its best when it's helping to lead a strong Europe."

However, officials also predicted that whether Leave or Remain, US-UK relations will not change. 

What is almost certain is that Brexit will harm the US economy in some way; the pound sterling has plummeted and may continue to do so for quite some time. This negative market reaction may have consequences across global financial markets - this remains to be seen.

 

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