The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was originally known as the Trans-Pacific Partnership. It was spearheaded by the United States under the Obama administration but former US president Donald Trump pulled out of the pact in his first days in office in 2017. It was eventually signed in March 2018 by 11 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, and represents a market of about half a billion people and roughly 13.5 per cent of the global economy. It is seen as among the highest class of multilateral trade deals, covering modern issues such as digital trade, as well as social issues such as the environment and labour rights. Since it was signed, both Britain and China have formally requested to join the Pacific Rim trade pact.