What will happen if there’s no deal?
The U.K. is scheduled to leave the EU on March 29, 2019. With no trade deal in place, customs checks would have to begin on all goods crossing the British border both ways. Since the U.K. doesn’t have the infrastructure to do that, trucks would back up for miles. The just-in-time supply chains that British stores and manufacturers use would be disrupted, causing shortages of food and other goods. British financial firms would lose their right to sell their services in the EU. Companies would lay off workers. The pound would plummet. Brexit proponents say such a doomsday scenario is unjustified scaremongering. “No deal is better than a bad deal,” May insists. With no agreement in sight that’s acceptable to both the EU and Brexit hard-liners in the U.K., it increasingly looks like May’s prediction will be tested—less than six months from now.