Nigel Farage: UK Will not be Able to join Pacific Trade Bloc

• By Joergen Haisem
• (General Dispatch) – British politician Nigel Farage said the country may not be able to join the CPTPP trading bloc, seeing it as desperate measures after leaving the EU.

• The Brexit leader spoke out when International Trade Secretary Liz Truss, who had issued a message about the government planning to join the CPTPP in less than 12 months’ time, said that the country may not be able to join the CPTPP trade bloc, seeing it as desperate measures after leaving the EU.

• Currently the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is made up of “Vietnam, Malaysia, Japan, Chile, Canada, Brunei, Australia, Mexico, New Zealand, Peru and Singapore.”

• “There is a very, very big difference between a relatively straightforward free trade agreement, where you remove tariffs and barriers and just allow people and businesses to make decisions, that’s fine, but I’m afraid, looking at this particular proposal, there are too many demands, here, for real policy harmonization,” Farage said.

• Farage said there should be more planning, not making any kind of forced trade moves; so far the steps that have been taken have made the country start to see positive results.

• On the other hand the US was included in the previously called Trans-Pacific Partnership (TPP), when Barack Obama was in office; however Donald Trump decided to withdraw with an option to return as long as they offered better benefits to the country.

• Reuters reported that after the US decided to leave, the other countries restructured the partnership and changed its name to the current one (CPTPP).

• The objective of the association is to trade with lower tariffs, besides taking into account important issues such as environmental and labor issues, including tools for those companies that feel that their profits are being affected, to file a lawsuit against a government.

Adittional Information:

Breitbart: ‘Too Many Demands’ for ‘Political Integration’: Farage Wary of UK Joining Pacific Trade Bloc

Breitbart: Brexit Britain Pushing to Join Major Pacific Trading Bloc in 12 Months