For American companies selling to the UK, a no-deal Brexit would mean a weaker pound — making US goods more expensive.
The diplomatic machinations around Brexit are head-spinning, but political turmoil wouldn’t be the only result of a so-called “hard” Brexit. Economic concerns if the United Kingdom crashes out of the European Union with no deal in place at the end of October range from the impact on U.S. exports to global implications for international trade.
Tom Elliott, international investment strategist at the deVere Group, predicted “an effective tightening of U.S monetary conditions, through dollar appreciation.” The prospect of business interruption is another risk that could hit American companies. “If you get a no-deal Brexit, you’re going to have a severe disruption of supply chains, which means every U.S. company that has operations in the U.K. [is] going to be very significantly and adversely affected,” Kirkegaard said.
Specifically, a no-deal Brexit could do significant damage to Germany’s export-based economy, and if the E.U.’s biggest economy stalls, the ripple effects could be far-ranging.
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