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International Trade Secretary Liz Truss boasted that Britain is chasing after 40 percent of the world’s GDP since breaking free of EU rules. She announced today that Britain has opened up its application to join the massive Trans Pacific Partnership (CPTPP), which amounts to a huge £9 trillion free trade area. Speaking to Sophy Ridge on Sky News, Ms Truss pointed out that the markets that Britain is striking deals with are “growing faster than the EU”.
She said: “If you add up the CPTPP and the US that 40 percent of global GDP, that is a huge market for us to go after.”
When pressed about a US trade deal, Ms Truss responded: “We are working on that as well Sophy, that is also in the pipeline.”
Ms Ridge questioned whether Britain would make up the lost revenue from EU trade, prompting Ms Truss to fire back.
The International Trade Secretary said: “Those markets are growing father than EU markets.
“We need to think about where we want Britain to be in 2030, in 2050. I’m laying that groundwork for our future economic opportunities.”
Lauding the CPTPP arrangement, Ms Truss said: “This is really fast growing group of countries so some countries like Mexico and Malaysia are rapidly moving up the global league tables.
“What we want to do is hitch Britain to those fast-growing economies. We will see reduced tariffs on things like whiskey, cars, technology.
“That will enable British business to export more.
“And unlike the EU, there are no strings attached. We don’t have any courts making judgments, any control over our borders lost, we won’t be paying any money in.”
Prime Minister Boris Johnson himself hailed the latest move which will be the biggest Brexit bonus yet.
He told the Sunday Express: “A year on from leaving the EU, we are wasting no time forging new partnerships that will reap huge economic rewards for British people and businesses.
“Applying to join up with old friends like Australia, Canada and New Zealand as well as exciting, fast-growing markets like Vietnam is a demonstration of our commitment to making Britain an enthusiastic champion of global free trade.”
Ms Truss has already signed 63 trade deals with £885 billion over the last year.
North west Leicestershire MP Andrew Bridgen praised the latest trade plans: “We don’t need EU any more.
“This just confirms the massive opportunities Brexit is already bringing to this country.
“The EU were afraid Brexit would turn Britain into a major competitor and now their worst fears are being realised.”