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International Trade

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International Trade

Category: Case Study

Subcategory: Economics

Level: High School

Pages: 3

Words: 825

Student’s Name
Professor’s Name
Course
Date
International Trade
In this article, published by The Guardian on 3rd January 2018, it outlines the efforts being undertaken by the British International Trade department to improve the current status of their international trade levels through joining the Trans-Pacific Partnership (TPP). Through a referendum on 23rd June 2016, 52% of the British electorate voted for the country to leave the European Union (EU). However, the United Kingdom is yet to leave the union until March 2019. But, the repercussions of the Brexit have already started showing up, with the country experiencing significant annual household losses and reduction in its Gross Domestic Product signals a rough time ahead. It is clear that after the Brexit vote, the United Kingdom has been experiencing unfavorable balance of payments against its international trade partners, particularly, in Europe. In an attempt to correct the reducing balance of payments, the country’s international trade department has turned to negotiate with the Trans-Pacific Partnership to improve its exports capabilities. After the Brexit, there was a significant decrease in the United Kingdom’s exports due to the collapse of trade agreements that had been agreed upon in the European Union. In this case, the country has to source for other means to strengthen their international trade relations with neighboring nations to improve their balance of payments in international trade (Gr…

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