U.S. Chamber Statement on Outcome of U.K. Referendum on EU Membership

Friday, June 24, 2016 - 9:45am

WASHINGTON, D.C. — U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement on the outcome of the British referendum on the continued membership of the United Kingdom in the European Union (EU):

“The British people have opted for change. Whether this break with the status quo benefits the U.K. in the long run will depend chiefly on the choices awaiting policymakers in the months ahead.

“While some uncertainty is unavoidable in the near term, the first order of business will be to reassure investors about those choices and avoid precipitous action in the coming negotiations with the EU.

“Britain has a proud history of leadership in free enterprise and free trade and as a leader of the Atlantic Alliance. Redoubling this commitment to openness in trade and investment, prudent but not overbearing regulation, and close cooperation with friends and allies abroad will be essential in the months ahead.

“American companies’ investments in Britain are worth more than half a trillion dollars, and many of those investments were made to reach not just British consumers but those in the European mainland as well. We are committed to working with the U.K. government to ensure that the priorities of these stakeholders are taken into account in the debates that lie ahead.”