The United Kingdom is on a secret mission to join Trans-Pacific Partnership trade deal. It is a longstanding dream of ex-President of the US, Barack Obama, and Hillary Clinton. The Trans-Pacific Partnership is very similar to the European Commission for Asia. It is a trade deal between Australia, Japan, Chile, Canada, Brunei, Mexico, Malaysia, Vietnam, Singapore, Peru, and New Zealand.
Conservative lawmakers, citizens, and workers are against the UK joining the trade deal. It is so weird for the United Kingdom to leave one trade deal and joining another in less than two years. In July 2016, the UK left the European Union. It is still to make its official exit, which will be in March 2019. Greg Hands, the Government Minister, defended his government’s action of joining a trade deal across the world. He said the joining these plurilateral relationships need no boundaries or geographical restriction.
What is the Trans-Pacific Partnership?
In this partnership, the countries that were mentioned above work in an Investor-State Dispute Settlement mechanism. It lets big corporates sue nations if they set up policies against them. Again, it drains the company’s money. US President, Donald Trump is completely against it and calls it insanity. He pulled out to the trade deal just after he became the president.
It is a secretive deal between the mentioned countries, and no one knows what happens there, but it does have severe effects on manufacturing industries. Around 70 percent of the Americans are okay with limiting imports rather than allowing free international trade. Limit imports let them buy goods at lower costs in the country. President Obama was the strong supporter of the deal and called it the most progressive trade bill in history. It protects human rights and environmental rights, both which lead to a healthier market.