Britain joins CPTPP

 

Britain left one trade bloc called the E.U. and has just joined another one called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It wasn't long ago that the British government were trying to join the North American Free Trade Agreement (NAFTA).

 In 2016, many British voters voted to leave the E.U. having been persuaded that they were taking back control of their country and its borders. Although it's not mentioned in this article, the CPTPP agreement contains the Investor-State Dispute Settlement (ISDS) provision that allows corporations to sue states if government policies are seen as likely to affect future profits. This might arise from concerns about environmental protection or human rights. A tobacco company might invoke the ISDS if they thought a ban on tobacco advertising was likely to have an adverse effect on profitability. A company might sue the British government if it had a ban on the use of certain chemicals used in food production.