Brexit: Pacific trade deal could damage ANOTHER UK industry

Britain has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which also included countries like Australia, Canada and Japan.

Now another industry is concerned that the deal could severely impact on them, but more of that in a minute.

The overall trade deal suggest this “benefit of Brexit” will add a grand total of 0.08% to the UK economy over 10 years, compared to the 4% we are losing from leaving the EU.

So that’s not great….

For reference, the government's own estimates suggest this "benefit of Brexit" will add a grand total of 0.08% to the UK economy over 10 years, compared to the 4% we are losing from leaving the EU. pic.twitter.com/mLkOX5NvaK

— Adam Bienkov (@AdamBienkov) March 31, 2023

It also comes as the BBC has come under fire for claiming that the CPTPP deal as an “£11trillion trade deal” because its membership’s GDP adds up to 11 trillion is like looking at the monthly user count and telling everyone you’re romantically involved with 75 million people because you just downloaded Tinder,” as Dmitry Grozoubinski.

Describing CPTPP as an "£11trillion trade deal" because its membership's GDP adds up to 11 trillion is like looking at the monthly user count and telling everyone you're romantically involved with 75 million people because you just downloaded Tinder. pic.twitter.com/SNXBRMByIy

— Dmitry Grozoubinski (@DmitryOpines) April 4, 2023

Eggs

Now Farmers weekly have reported that the ‘UK egg industry has reacted with disbelief that import tariffs on eggs and egg products are to be phased out following the government announcement that the UK is set to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

“The trade deal, for which the UK government has now “substantially concluded” negotiations, will lead to increased free-trade with 11 other countries, including Canada, Mexico and Chile.”

Also, now the Spectator has now claimed that the deal isn’t even about trade! They write: “Curiously though, the trade and economic benefits which the UK might derive are likely to be pretty meagre. The real story in the UK’s additional tilt into Asia is potentially about geopolitics.”

It comes as a new petition has been launched by Liz Webster, chairwoman of the Save British Farming campaign, demanding that UK citizens be given the chance to vote in a referendum before joining the CPTPP. 

“We had two referendums on membership of the EU trade bloc, and it’s only fair and right that the people be asked if we are to join any more trade blocs,” she said.

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