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In force since 2022, this Asia-Pacific pact links 15 nations including China, Japan, and Australia into the world's largest free-trade area by population and output.
RCEP links 15 Asia-Pacific nations, including China, Japan, and Australia, into one trade agreement reducing tariffs and streamlining rules, making it the largest free-trade area by combined population and output. Harmonizing rules across so many economies makes it easier to build supply chains without navigating separate bilateral deals.
NAFTA was an earlier US-Canada-Mexico agreement, since replaced, and never included Asia-Pacific countries. Brexit is the UK's withdrawal from the EU, an act of leaving a bloc rather than forming a new one.
RCEP's scale, covering roughly a third of world population and output, shows regional trade integration in Asia deepening even as some supply chains elsewhere fragment along geopolitical lines.
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