UK agrees to join Pacific trade pact in post-Brexit deal

The U.K. has agreed to join an Asia-Pacific trade pact that includes Japan, Mexico and Australia. Britain says it's the biggest new trade deal it has struck since leaving the European Union three years ago. The British government said Friday that it had clinched an agreement after almost two years of negotiations to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP. The government says membership will reduce tariffs on British dairy products and other goods and remove red tape for U.K. services. It's estimated it will boost the U.K. economy by 1.8 billion pounds ($2.2 billion) “in the long run.” Critics say the deal is insignificant compared to Britain’s trade with its neighbors in the EU.