Brexit No-Deal

There was an election in the United Kingdom and the conservative party won most of the seats meaning they choose the Prime Minister. Boris Johnson is staying in power in the United Kingdom and this means Brexit is more likely to actually happen. The world has been waiting for Brexit to be fully enforced and no Prime Minister in the past three years have been able to get a deal through with the European Union. Prime Minister Johnson is planning writing into law that the transition period can not be extended any further. This could mean a no-deal leaving of the EU. On January 31^st, the UK will be leaving the EU no matter what. During this period of transition, the UK will no longer have voting rights in the EU but must follow the laws. They also must negotiate new trade agreements with the nations in the EU. All of this would have to be done by December 31^st, 2020. Many say that just making all the deals with the other nations will take longer than a year, but Johnson is not listening to this. In preparation for Brexit, the pound has already dropped in value and it could go even lower because of the uncertainty in the nation. 

There are many uncertainties about Brexit, and these are not going anywhere. Some people are just tired of the issues involved with Brexit and want it to get done which is what the conservative party promised. Some leaders of the EU are glad they will soon be able to have trade agreements with the UK which will help them know their future. However, rushing this could cause many issues like at the border of the United Kingdom. The EU is an open zone and that means, in general, there are no border crossings between countries. This could severely slow trade to and from the UK if they do not get deals with other EU countries.  This would cause the economy to falter even more. Mostly what is worrying people is the unknown. There are a lot of factors that have not been properly evaluated yet. The instability of the United Kingdom’s economy is worrisome to the United States as well because it is our ally and trading partner. It could also affect the rest of the EU which we have very close relations with.