Business, Freight News

EU to sign Japan free trade pact

[ July 7, 2017   //   ]

In an apparent rebuke to anti-globalisation politicians such as Donald Trump and pro-Brexit factions in the UK, EU and Japan said on 6 July that they were poised to sign an historic free trade agreement. The deal, endorsed by Japan’s prime minister Shinzo Abe and EU leaders should open up Japan’s market to EU exports on an unprecedented scale, giving virtual duty-free access for almost all food products to Japan apart from a few quotas on primary products. Import duties on cars from Japan to the EU will also be phased out in a six-year transition period, but those on car parts will be eliminated more rapidly.