UK Prime Minister Theresa May has officially “triggered” Article 50. That means the seperation from the EU will officially take place.
“We understand that there will be consequences for the UK of leaving the EU. We know that we will lose influence over the rules that affect the European economy. We know that UK companies that trade with the EU will have to align with rules agreed by institutions of which we are no longer a part, just as we do in other overseas markets. We accept that,” she said.
It will take approximately 2 years for the U.K. to officially sever from the EU.