UK: Trans-Pacific Partnership Trade Deal to Come into Effect This December
UK: Trans-Pacific Partnership Trade Deal to Come into Effect This December
The Facts
On Thursday, the British government has said that it has received final ratification to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the deal coming into effect on Dec. 15 of this year.
The UK had signed the deal in July 2023, and was the first non-founding member to join. The founding countries consisted of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The Spin
The ratification of the CPTPP is proof-positive that the UK is better off without being shackled to the decrepit EU. The UK could not accede to the CPTPP was still in the Union, leaving the country worse off and without the power to dictate trade policy. This is an exciting new era for Britain, and goes to show how much we can accomplish with a little confidence in ourselves.
Labour has shown that they are no different than the Conservatives, as the sell the UK out to foreign multinationals after the disastrous withdrawal from the EU left the island isolated. The economic gains over the long-term are marginal, and grant foreign investors undue influence in the UK's affairs. What's worse, inter-CPTPP discord could derail further ratification and make this all for nought.
