United Kingdom leaving single market for TPP could hit workers' rights, union warns

AFP  Getty Images

The London-based Financial Times newspaper reported today that British Prime Minister Theresa May's government was looking for ways to boost its worldwide trade platforms and is possibly looking to join the almost defunct Trans-Pacific Partnership (TPP), which Donald Trump, the US President, abandoned previous year.

Trade Secretary Liam Fox is developing the proposal and Greg Hands, a United Kingdom trade minister, said there's no geographical reason why Britain couldn't join the partnership.

The TPP has so far involved only countries around the Pacific Rim such as Japan, Canada and Mexico. The US accounted for 65% of the total GDP of the original TPP members.

Britain would be the first member of the trade agreement to not border the Pacific Ocean or the South China Sea.

But it's likely any deal would have to wait until the agreement on the UK's exit from the European Union has been settled.

In November 2017, Fox accused British businesses of not being enthusiastic enough about global trade, saying Britain must "get more of our companies to think about exporting overseas".

More news: Yet another D-Day for Lalu on Jan 24

The UK is not allowed to make trade deals before it formally leaves the EU.

"In these multilateral relations, there should be no geographical constraints", said Greg Hands.

Combined spending from the TPP countries make up less than 8% of the UK's export market. "It's a great thing for the American worker".

Fellow non-euro country Sweden has long seen Britain as one of its closest partners in the union, and concerns have been raised that pressure for Sweden to join will increase when its ally leaves the EU.

Those include the TPP having not yet been ratified and the considerable uncertainty over the UK's final deal with the EU. "Of course [TPP] could be helpful but it is not the main event, and at the moment the government is making a hash of that", said Barry Gardiner, the shadow trade secretary.

Britain is said to be drawing up plans to join a trade group based on the other side of the world after Brexit. Michael Gove, the environment secretary, said in December that parliament would have an effective veto over any trade deal.

Related News:

  • EPS Growth overview of Anadarko Petroleum Corporation (NYSE:APC)

    Analysts expect Anadarko Petroleum Corporation to post earnings of ($0.47) per share and revenue of $2.32 billion for the quarter. Atria Limited Liability Corporation holds 0.02% of its portfolio in Anadarko Petroleum Corporation (NYSE: APC ) for 7,147 shares.
    Jio Vs Airtel Vs Vodafone

    Jio Vs Airtel Vs Vodafone

    In the same way, a recharge of Rs 666 will give 1.5GB per day data with a validity of 129 days. Airtel and Jio recently updated its plans to offer more data at cheaper prices.
    China hope for Airbus A380

    China hope for Airbus A380

    He said France also hoped to agree deals sell Airbus A350 and A380 models to China in the coming months. As the Chairman of Airbus China , I will continue to support Airbus' development in China.
  • NHL: Ryan Suter, Devan Dubnyk help Wild beat Blackhawks 2-1

    NHL: Ryan Suter, Devan Dubnyk help Wild beat Blackhawks 2-1

    Schmaltz scored his second of the game, picking up Sharp's rebound to beat Condon high and Rutta made it 6-2 with a one-timer. Toews added another in the third, giving him five goals in his last five games.

    British American Tobacco (BTI) Upgraded to "Buy" by Zacks Investment Research

    It improved, as 57 investors sold SPG shares while 202 reduced holdings. 64 funds opened positions while 179 raised stakes. The New York State Teachers Retirement System holds 354,752 shares with $38.26M value, up from 323,552 last quarter.
    Dragon Ball FighterZ: How to Redeem Beta Codes from GameStop & Amazon

    Dragon Ball FighterZ: How to Redeem Beta Codes from GameStop & Amazon

    Bandai Namco also announced the roster of playable characters for its open beta. Bandai Namco's Dragon Ball FighterZ was first revealed in June of a year ago .
  • Japan confirms submarine spotted near Senkakus was Chinese

    Japan confirms submarine spotted near Senkakus was Chinese

    The submarine's presence was confirmed by a Japan Maritime Self-Defense Force escort ship and a P-3C aircraft, the statement said. It then re-entered the contiguous zone around Taisho Island, which is part of the Senkakus, before leaving that afternoon.
    Many Oregonians outraged they now have to pump their own gas

    Many Oregonians outraged they now have to pump their own gas

    Tina Good : Not a good idea, there are lots of reason to have an attendant helping, one is they need a job too. One woman wrote "I don't even know HOW to pump gas and I'm 62, native Oregonian ".
    Momentous Kenya-America flight launched

    Momentous Kenya-America flight launched

    The 14-hour flight will depart from Nairobi's JKIA AT 23:25hrs, and from New York's JFK at 1225 hrs. From New-York it will depart at 12:25 landing at JKIA at 10:55 the following day.
  • USA  trying Turkey's patience - Erdogan

    USA trying Turkey's patience - Erdogan

    Turkey entered the war in Syria on the U.S.'s side, but has grown increasingly distant over US support for Kurdish militants. Turkish President Tayyip Erdogan speaks during a meeting at the Presidential Palace in Ankara, Turkey, January 10, 2018.
    Don't extinguish migrants' hopes - Pope

    Don't extinguish migrants' hopes - Pope

    May the Lord grant us [the opportunity] to work with generosity in this new year to realise a more supportive and welcoming world. Pope Francis has previously condemned the nuclear weapons and highlighted the plight of children in war zones.

    Wells Fargo & Co (NYSE:WFC) is Sippican Capital Advisors' 5th Largest Position

    It worsened, as 51 investors sold SO shares while 353 reduced holdings. 99 funds opened positions while 465 raised stakes. At a certain point in the past four quarters, the shares traded as low as $49.27 but made a 26.36% recovery since then.


Most liked

Transocean LTD (NYSE:RIG) Shares Bought by Stifel Financial Corp
The offshore drilling services provider reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.20. ValuEngine lowered Transocean from a "buy" rating to a "hold" rating in a research note on Wednesday, November 15th.

Lenovo reveals ARM-based, always-connected Miix 630 2-in-1
Performance-wise the Qualcomm Snapdragon 835 SoC onboard the Lenovo Miix 630 is as capable as a 7-generation Intel Core-i3 CPU. The company announced at a press event, the new Miix 630 which will be coming with Qualcomm Snapdragon 835 processor .

Attorney: Reggie Lynch has requested panel hearing
Pacyga went on to say he was not "taking down" the #MeToo movement because "he has a daughter". Under Coyle's suspension of Lynch, Lynch is able to practice with the team but not travel.

Alibaba Group Holding Ltd (BABA) Upgraded to Buy at New Street Research
E&G Advisors Lp who had been investing in At&T Inc for a number of months, seems to be bullish on the $225.03B market cap company. Leuthold Group Ltd Company has invested 0.41% of its portfolio in Citizens Financial Group, Inc. (NYSE:CFG) for 91,430 shares.

Paul Dunne ready to perform in potential Ryder Cup audition
Yet, Europe, who are also preparing for the Ryder Cup against the USA later this year, were not willing to take Asia lightly. It gives Denmark's Bjorn a great chance to test players in a team environment before the showdown against US in Paris.

Protestors Project "F-k Trump" On Stadium At College Football National Championship
Trump arrived in metro Atlanta around 6 p.m.to take in the all-Southeastern Conference matchup between the two powerhouses. The Alabama Crimson Tide was facing the Georgia Bulldogs in the College Football Playoff national championship.

Directors Guild embraces women, minorities in awards nominations
Last year, Damien Chazelle became the youngest DGA feature film victor and went on to win the Academy Award for "La La Land". Winners will be revealed at an untelevised February 3 ceremony and dinner in Beverly Hills hosted by Judd Apatow.

Analyst Research and Ratings: Vipshop Holdings Limited (VIPS), Discovery Communications, Inc. (DISCK)
Deutsche Bank AG raised VIPSHOP HOLDNGS from a "hold" rating to a " buy " rating in a research note on Thursday, November 10th. Its down 0.16, from 1.32 in 2017Q2. 380.49 million shares or 2.17% less from 388.91 million shares in 2017Q2 were reported.

LG 4K TVs Smarten Up in 2018 With 'ThinQ' and Google Assistant
The voice control capabilities will also integrate with other smart home devices , like robot vacuums, smart lights, and more. LG today announced its OLED and Super UHD smart TV lineup, which will all include the company's new ThinQ AI technology .

BJP hits back at Karnataka CM over 'terrorist' tag
The Congress defended CM Siddaramaiah saying he wouldn't have made the comment without intelligence inputs. "Our appeal to Mr. That is the difference between me and. "The BJP, RSS and Bajrang Dal also have terrorists within".

Hospital Bosses To Update Health Minister On Overcrowding
Cork University Hospital recorded 6,815 patients waiting, while there were 6,563 recorded waiting at University Hospital Galway. In Dr Susan O'Reilly's plan, these two hospitals are supposed to take patients from Portlaoise if it is downgraded.

Bungie announces plans to remedy Destiny 2's loot box system
The biggest difference is that each faction's reward pool will replace last year's accessories with season two armor ornaments. But few features draw more ire than the Eververse store, where players spend real money on an assortment of cosmetic items.

Now: Padmavati becomes Padmaavat..
The makers of the film changed the title across all social media platforms ( Instagram and Twitter) dedicated to the film.

Ford Motor Company (F) Lowered to C at TheStreet
First Citizens Bank & Trust Co.'s holdings in General Motors were worth $3,180,000 at the end of the most recent reporting period. Analyst research firms are expressing bullish stance on General Motors Company (NYSE:GM)'s near-term growth potential.

RIP: Late Babymetal Guitarist Mikio Fujioka's Best Guitar Moments
While playing with Babymetal previous year , Fujioka opened for iconic rock bands Guns N' Roses and Red Hot Chili Peppers . Read the tweets from Fujioka's wife, below.