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Assessing the True Cost of Brexit
U.K. could face a $140 billion hit under global trade rules after Brexit, study shows
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The U.K.’s exit from the EU and adoption of World Trade Organization rules would shave 5 percent off potential economic output over 10 years, according to research by the RAND Corporation. The $140 billion hit would exceed that of the EU, which faces a potential gross domestic product reduction of 0.7 percent, or $97 billion. British GDP would also suffer even under a softer Brexit, such as a free trade agreement with the EU and a transitional deal, the analysis showed.