LIZ TRUSS TO SPEAK TO OFFICIALS OVER JOINING THE TRANS-PACIFIC PARTNERSHIP
A year after the leaving the European Union, the Government said Saturday that it wants to join the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
International Trade Secretary Liz Truss is set to speak to officials in Japan and New Zealand on Monday to formally make the request, with negotiations expected to commence this year.
The Government says joining the partnership would deepen ties with fast-growing economies, including Mexico, Malaysia and Vietnam.
The United States, the world’s biggest economy, is not part of the partnership; former President Donald Trump, withdrew the country from its predecessor, the Trans-Pacific Partnership. China, the world’s No. 2 economy, also does not belong.
The U.K.’s aim in joining is the benefit of lower tariffs for the British economy. The government says the partnership removes tariffs on 95% of goods traded between members.