Problems in Trade Relations due to Brexit

Problems in Trade Relations
because of Brexit

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Brexit refers to the exit of the Britisher from the European union in the June 2016. The
people of the UK voted to leave the union of the Europe. The calculation of the vote is that
maximum people wanted to leave in respect of people who voted to remain like 17.4 million
people are ready to leave and 15.1 million are not ready. Due to the Brexit the level of per capita
income of the UK reduces and affects their economy. In the long term Brexit affects the
economy of the British. The status of tariff free trade in Britain is reduced with the members of
the European union.
MAIN BODY
Brexit is the problem because it will have negative impact on the economic, political and
social status of the country. It would delete the status of the free trade of tariff in Britain and
increases the export cost. The exporters of the UK suffered greatly because their products and
services become costly in the Europe. There is also increases in the prices of the import in the
UK because of tariffs and larger share of the goods and services are come from the country of
European union. So the increase in the imports will decreases the standard of leaving and creates
inflation. The production of the local food products also reduces because of droughts and waves
of the heat due to the global warming in the UK (Bhattacharya, 2019). Services of phone,
internet and airfares cost increases in the UK. There is the shortage of the skilled and talented
labour in the Germany in the future because of the Brexit. So there is the big loss in the services
of the London which they provide to the customer. The issue of politics is the agreement of the
Good Friday which happened due to the Brexit. Leaving the unions of the Europe have great
impact on the economy of the country. The dealing of the trade with the Europe is renegotiated
due to the manufactures of foreign automobile in UK. In the sale of the products and services
like grains, vegetables, meat, fish. The students of the European union have to pay larger fees to
the universities because of the Brexit(Wolff, 2019). The impacts if the Brexit will not only
affects the economy of the Britain but also the economy of the European union and economy of
the world also. The parliamentarians of the Europe wants that the UK did not leave the Europe
and remain stayed in the union of the European.
European union refers to the set of 28 countries of the world which works as the single
unit of the economy of the world. The main currency is in the form of the euro and all the
countries which are included in this have to adopt this currency. In 2016 there is the voting