Business, Freight News

EU to sign Japan free trade pact

[ July 22, 2017   //   ]

[ July 7, 2017   //   Chris ]

The European Union and Japan have announced that they will sign an historic free trade agreement in what is an apparent rebuke to anti-globalization politicians such as Donald Trump and pro-Brexit factions in the UK . 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.