EU and Japan reach free trade deal | WHAT REALLY HAPPENED

EU and Japan reach free trade deal

The European Union and Japan have formally agreed an outline free-trade deal.
The agreement paves the way for trading in goods without tariff barriers between two of the world's biggest economic areas.
However, few specific details are known and a full, workable agreement may take some time.
Two of the most important sectors are Japanese cars and, for Europe, EU farming goods into Japan.
The outline plan was signed in Brussels after a meeting between the Japanese Prime Minister, Shinzo Abe, and the European Commission president, Jean-Claude Juncker, on the eve of a meeting of the G20 group of leading economies in Hamburg.
It comes hard on the heels of the collapse of a long-awaited trade agreement between Japan, the US and other Pacific ring countries, the Trans-Pacific Partnership (TPP), which was scrapped in January by US President Donald Trump.
'Countering' Brexit
The president of the European Council, Donald Tusk, said the agreement showed the EU's commitment to world trade: "We did it. We concluded EU-Japan political and trade talks. EU is more and more engaged globally."

Webmaster's Commentary: 

Hopefully, when the details kick in, this will be a truly "win-win" situation for both Europe and Japan.

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