Britain has secured full access to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a significant free-trade zone, following Canada's ratification last week. The CPTPP became fully operational on 1 September 2026, providing UK exporters with full, tariff-free access to its 600 million consumers.
The CPTPP encompasses 12 countries across Asia and the Americas, including Canada, Japan, Mexico, Australia, and Malaysia. The Treasury estimates that this deal could boost the UK economy by £2 billion.
However, the article notes that this positive news has received limited attention amidst bond market instability, rising UK debt costs, and a looming recession. The CPTPP is described as a vast and rapidly growing market, with its total GDP currently £4 trillion behind the EU, but projected to overtake it within a decade.
The article highlights a potential conflict with the government's discussions about a "reset" with the EU, including the possibility of joining the customs union. It suggests that any closer relationship with the EU would effectively mean leaving the CPTPP, as Brussels would demand control of UK trade policy and set tariffs, including those on goods from the Pacific.