TPP May Return to 12 Countries Because of Britain's Accession
According to the Financial Times, on January 3, 2018, Britain held informal talks on joining a Pacific flagship trading bloc as part of a bold attempt to promptly launch exports after the Brexit. The proposal put forward by Liam Fox's UK Department of International Trade may make Britain the first member of the Trans-Pacific Partnership (TPP) that has no frontiers in the Pacific and the South China Sea. This will help rejuvenate the TPP. The TPP is an important move by the Barack Obama administration, and Donald Trump's withdrawal of the United States from TPP in January 2017 seems to have hit the deal. The remaining 11 members, including Australia, Japan and Mexico, agreed in November 2017 to promote a follow-up agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).Greg Hands, UK Trade Minister, said that Britain's accession to the TPP will not be subject to geographical restrictions. "Nothing is excluded in all of this," he told the Financial Times, "There are no geographical restrictions in this multilateral relationship." However, it is almost certain that the UK will have to wait to join the TPP until the TPP itself has finished the amendment of the agreement , as well as Britain and the EU have reached an agreement on their relationship after the Brexit. Officials from TPP member states said they expect to sign the revised agreement in early 2018, but they are currently trying to solve some of the issues raised by Canada. An official said it was "too early" to discuss Britain's joining the TPP before the Brexit agreement was reached. In addition, the British cabinet has not yet discussed the possibility of Britain's joining the TPP. British Secretary of State for Environment, Food and Rural Affair Michael Gove said in December 2017 that parliament has an effective veto over any trade agreement. It is not difficult to see that there is still some way to go for the idea of Britain's joining the TPP.