Brexit vote’s effect unclear on Arizona economy, but some impact expected

PHOENIX — Arizona businesses could see some fallout from Britain’s decision to leave the European Union, but it is unclear how drastic it will be.

The brunt of the blow is expected to be felt, obviously, by businesses that deal with others in the United Kingdom, either directly or indirectly.

“You’re looking at trade uncertainty,” James Goodnow, a legal analyst with law firm Fennemore Craig said. “You also have businesses — that have locations that conduct operations in the U.K. — suddenly, will have that disrupted.”

Goodnow said it is unclear exactly how much business is conducted between Arizona and the U.K., but the nationwide figure is well into the billions.

“You have $558 billion dollars pouring in from the U.S. to Great Britain,” he said. “That’s, in fact, more than Canada and Mexico.”

The Brexit vote led to great uncertainty in the world’s financial markets. The Dow Jones closed down more than 600 points on Friday.

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