Kemi Badenoch signs treaty for UK to join Indo-Pacific trade bloc

News Snapshot:

The business secretary, Kemi Badenoch, has signed off UK membership to a large Indo-Pacific trade bloc that the government argues will bring British businesses a step closer to selling to a market of 500 million people with fewer barriers. Badenoch signed the accession protocol for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in New Zealand on Sunday. Critics say the impact will be limited, with the government’s technical estimates suggesting it will add just £1.8bn annually to the economy after 10 years, the equivalent of 0.08% of Britain’s gross domestic product. Badenoch said the deal would bring “significant”...