Post-Brexit, the UK needs to find allies on trade liberalisation. One obvious place to look is the Trans-Pacific Trade Partnership. The UK is keen to join this group of 11 countries, as Liz Truss reiterated at a Policy Exchange event this afternoon. The Singaporean trade minister emphasised how keen he would be to see the UK join, and how this would send a message about the role that the UK wishes to play in the world post-Brexit.
Interestingly, he also warned that the government needs to prepare domestic businesses for the change this would bring to prevent any anti-trade backlash. In her remarks, Truss implicitly accepted that there isn’t going to be much multilateral progress on trade liberalisation, and so the plurilateral option offered by the Trans-Pacific Partnership is the next best thing.