Washington / London According to a foreign trade expert, Britain currently has little prospect of participating in large trade alliances. “Adherence to the CPTPP trade pact of the Pacific countries and especially the USMCA of North America is not realistic at first, at least not in the near future,” said Emanuel Adam of the Agency’s British-American Chamber of Commerce. German Press. .
Adam admitted that it was too early to talk about joining the United States-Mexico-Canada Agreement (USMCA). “However, this idea seems a bit far-fetched.”
The free trade deal with the United States hoped for by British Prime Minister Boris Johnson, a major post-Brexit project, has come a long way. US President Joe Biden has made it clear that such a bilateral deal is not currently a priority and is also critical of London’s role in the dispute with the EU Commission over Brexit rules for the British province of Northern Ireland.
As a result, the British media reported that Great Britain was trying to be admitted to the USMCA.
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“It is not entirely clear whether the T-MEC will allow other parties to join, especially since joining would mean renegotiating the negotiating pact,” said trade expert Adam. In addition, the United Kingdom already has agreements with Canada and Mexico ”.
Also unlikely to join CPTPP
The situation with the CPTPP (Comprehensive and Progressive Agreement of Trans-Pacific Partnership) is also complicated. “Negotiations to join the CPTPP are just beginning, and China’s intention to seek membership could also complicate the process.”
The British-American Chamber of Commerce calls for new transatlantic economic cooperation “in view of the fact that there will be no trade pact between the United States and Great Britain at the moment.” For example, Washington and London could agree on specific agreements on data transfers, trade in services and digital technologies and further expand the promotion of local commerce, Adam said.
This would especially benefit small and medium-sized companies: “In the medium term, this could outweigh long negotiations with an uncertain outcome.”
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