Overview
- Canada has agreed to submit a bill this autumn to its parliament to ratify the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
- The UK joined the CPTPP in 2024 but still faces pre-CPTPP tariffs in Canada and Mexico until both countries complete ratification.
- Leaders will launch a structured Economic and Trade Working Group charged with delivering recommendations on market access, digital commerce, critical minerals and artificial intelligence within six months.
- The new task force also aims to revive stalled UK-Canada free trade agreement negotiations that collapsed in January 2024 over disputes such as hormone-fed beef.
- The joint statement includes plans to expand defense collaboration, with commitments to coordinate on critical security issues including support for Ukraine.