UK Joins Trans-Pacific Partnership in Major Post-Brexit Trade Deal
TL;DR Summary
The UK has agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade bloc spanning 11 countries including Canada, Mexico, Japan, Australia, Vietnam, Singapore, and Malaysia. The deal, which is expected to be signed by year-end, will cut tariffs on exports of food, drink, and cars, and will grant access to a market of around 500 million people, worth 15% of global GDP. The UK estimates joining the CPTPP will boost its economy by £1.8 billion in the long term and lift wages by £800 million compared with 2019 levels.
- Britain to join Indo-Pacific trade bloc in biggest trade deal since Brexit CNBC
- UK's CPTPP membership expected to boost trade bloc's economic clout, open up new markets CNA
- UK reaches its biggest trade deal since Brexit, joining trans-Pacific partnership CNN
- U.K. Joins Trans-Pacific Partnership as It Seeks to Diversify International Commerce The Wall Street Journal
- UK-Asia trade deal to boost UK economy by 0.08% BBC
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