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Ministers have held informal talks on joining the proposed free trade group that includes 11 countries bordering the Pacific Ocean, according to the Financial Times. And International Trade Secretary Liam Fox has not ruled out the UK joining the TPP. Britain would be the first member of the trade agreement to not border the Pacific Ocean or the South China Sea. Mr Fox said the UK wanted to see how the TPP evolved after America's exit from it before making such a move. However, even mention of Britain entering negotiations has been met with scepticism from some trade experts who argue it's unlikely to lead to a deal - and even if it did happen, the UK would not have much clout. The TPP pact is designed to deepen economic ties between member nations, by slashing tariffs and fostering trade to boost growth. The idea is to create a new single market not dissimilar to the EU. Following eight years of negotiations an agreement had been reached, but that was thrown into doubt after President Trump honoured a campaign pledge and pulled out of the trade pact last year. But the remaining 11 members - Canada, Australia, Chile, New Zealand, Brunei, Singapore, Japan, Malaysia, Mexico, Peru and Vietnam - have pressed on and are working towards ratifying an agreement which does not include the US.http://www.bbc.co.uk/news/business-42549541
It’s leveraged that success to create its own private labels in recent years, most notably Cat & Jack, a kids’ apparel line whose sales surpassed $2 billion after a little more than a year on the shelves. Target’s winning formula has emboldened Wal-Mart, which recently hired a veteran of Saks Fifth Avenue and Ralph Lauren Corp. to boost its fashion game. Apparel shopping these days often begins with an online search, and research from consultants Bain & Co. finds that a surprising number of those queries don’t mention a brand at all—consumers just enter “yoga pants” and see what comes up. Searching for generic product categories on Amazon turns up plenty of private-label options. More than one-quarter of first-page Amazon search results in categories such as men’s button-down shirts were private labels, Bain says. That helps explain why almost 40 cents of every dollar spent online on clothing and footwear in the U.S. will go to Amazon this year, according to data tracker Euromonitor, up from 23 cents in 2014. Amazon is capitalizing on this in two ways. First, despite its private-label push, it’s simultaneously trying to create legitimacy as a destination for fashion by luring established brands that want to improve their digital sales, even if it means submitting to Amazon’s pricing algorithms.
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