The United Kingdom’s surprising vote Thursday to leave the European Union sent its national currency, the pound sterling, tumbling to a 30-year low. If that holds, it could put a dent in exports to the country, according to Maine’s top trade official.
Janine Bisaillon-Cary said Friday morning the immediate reaction to the “Brexit” vote does not bode well for U.S. exporters, as the pound sterling’s fall against the dollar makes U.S. goods more expensive there. The UK was Maine’s ninth-largest export market in 2015.
“If the dollar gets too expensive, then that makes our products all the more expensive to purchase,” Bisaillon-Cary said.