With Britain now beginning to position its sails to the world, some great trade news has been announced today citing a £5 billion trade agreement with Mexico. This deal would see tariffs remain at zero percent on things like UK beverages and Cars.
To further this agreement, the two sides have said to be meeting in the new year to work on a brand new deal. International Trade Secretary, Ms Truss said: “This deal supports a trading relationship worth more than £5billion and locks in access to each other’s markets.
“We look forward to working together with our Mexican friends and allies on a new and ambitious trade agreement in 2021.
“This will allow our two countries to go much further in areas such as data, digital trade, investment, intellectual property and services.
“This is also the seventh trade deal we’ve secured with a member of CPTPP, the grouping of 11 dynamic economies around the Pacific.
“So, it’s another really important stepping stone toward the UK joining CPTPP, and I look forward to making our application to do just that early next year.
“Together we’ll enjoy even more success by seizing this opportunity to take our trade to new heights.
“International trade will help us to overcome the challenges of coronavirus and drive economic growth across our United Kingdom.”
Currently the CPTPP represents 13 percent of global GDP. With the UK on board it could see the GDP increase to 16 percent. This alliance would also see 95 percent of trade tariffs fall.