When US Secretary of State John Kerry came to visit London after the Brexit, he declared that the U.S. \u201ccould not ask for a better ally\u201d than the U.K.
\n\n\n\nTrue, the U.S. and the U.K. have had mutually beneficial relations for a long time, and are connected by a common thread, from trade and industry and commerce to culture and even international relations.
\n\n\n\nThat said, nothing immediate will happen to the US economy after UK decided to leave the European Union. Take note, I said \u201cimmediate\u201d.
\n\n\n\nBut of course, there will be some ramifications.
\n\n\n\nAccording to a report in Time, the U.S. \u201cexported $56.4 billion worth of goods to the U.K. in 2015, and imported $57.8 billion worth from the U.K. That makes the U.K. our seventh-largest trading partner, accounting for 3 percent of total trade. Canada, by contrast, accounts for 15.4 percent of total U.S. goods trade, with $575.5 billion of combined exports and imports.\u201d
\n\n\n\nAs a whole, trade between the two nations only makes up 0.5% of U.S. economic activity. However, the connections go well beyond direct trade between the two global powers.
\n\n\n\nHere are four ways the wake of Brexit could hurt the U.S. economy:
\n\n\n\nWhen US Secretary of State John Kerry came to visit London after the Brexit, he declared that the U.S. \u201ccould not ask for a better ally\u201d than the U.K. True, the U.S. and the U.K. have had mutually beneficial relations for a long time, and are connected by a common thread, from trade and industry […]
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