The UK Has Struck A New Trade Deal And People Are Making The Same Point
Rishi Sunak and Kemi Badenoch are this morning hailing a new trade deal struck by the UK in the early hours of this morning.
Britain has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which also included countries like Australia, Canada and Japan.
It will see export tariffs cut on British goods such as cheese, cars, chocolate, machinery, gin and whisky.
The prime minister said the deal “will help us unlock the benefits of Brexit” and boost the UK economy.
“As part of CPTPP, the UK is now in a prime position in the global economy to seize opportunities for new jobs, growth and innovation,” he said.
badenoch, the international trade secretary, said she was “unbelievably excited” by the agreement.
However, Twitter users were quick to point out that the small print of the government’s own assessment of the arrangement forecasts that it will add just 0.08% to the UK’s GDP over the next 10 years.
That compares to the 4% hit to the economy that experts believe will be caused by Brexit.
But Badenoch told Times Radio the CPTPP was “a deal about the future”.
She said: “There are lots of other countries that are in the queue to join. So we’ve got in early and we will be able to have a say in shaping the bloc.”
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