CPTPP benefits for United Kingdom are not great

Significance

Among other benefits, it stated that CPTPP membership would diversify UK markets and supply chains. However, there are clear divergences between the CPTPP and the United Kingdom, notably over data, food standards and certain tariffs.

Impacts

• The United Kingdom and several CPTPP members already have close economic alignment, so negotiations could be swift.
• If elected US president, Joe Biden would only seek to join the CPTPP if it can be renegotiated.
• If London pursues CPTPP membership, it may need to look for complex mechanisms to avoid undermining its potential trade deal with the EU.