Effects of Brexit On the European Union Social Sciences Essay (Essay Sample)

Effects of Brexit On the European Union
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Effects of Brexit On the European Union
Brexit is an abbreviation of the ‘British Exit’ representing the planned departure of the country from the umbrella European union organization. The EU is an organization that brings together countries of the European continent, and it facilitates the amalgamation of policies and trade deals to increase the bargaining power of the continent. The Brexit threatens to weaken the institution because Britain is a powerful nation in the continent. The eventual exit of the country from the EU will impact the trade between the EU-member nations and Britain, affect immigration and emigration between Britain and other countries in Europe and will necessitate a change in the host cities for essential agencies of the EU.
Brexit will impact the trade between the EU-member states and Britain. It is estimated that Britain accounts for 32% of the trade deals that the European Union gets from countries outside the organization. The reception of the trade deals is attributed to the high capacity in the UK to deliver on the contracts that are agreed between the EU and the country seeking cooperation (Sampson, 2017). Previously, the EU would negotiate trade deals on behalf of the British government. Furthermore, when Britain exits the European Union, the members-states of EU will incur high taxes and are subject to 65% of tariffs that the UK institutes. Therefore, the Brexit will reduce the economic power of the European Union.