.UK Strikes Historic Free Trade Deal With Japan As Brussels Threatens To Abandon Talks | WHAT REALLY HAPPENED

.UK Strikes Historic Free Trade Deal With Japan As Brussels Threatens To Abandon Talks

After a solid nine-month stretch that was blissfully devoid of major Brexit-related news as the global COVID-19 pandemic raged on, we declared last night that Brexit talks "suddenly matter again" as the drop in the pound was blamed - incorrectly, as Bloomberg later determined - for triggering yesterday's intraday declines in US markets.

But on Friday morning, American traders awoke to some surprisingly positive trade news out of Great Britain. A trade deal with Japan had been agreed to in principle, which would - if finally ratified by both countries - allow 99% of the UK's exports to Japan to cross the border tariff-free.

What's more, the deal even gave Johnson the opportunity to gloat, as Reuters reported the digital and data provisions in the agreement went "far beyond" those in the EU's trade deal with Japan.

The deal also allowed BoJo to show voters that Brexit is already giving them new options to strike favorable free trade deals.

Though, unsurprisingly, the PM's critics insist that these deals won't replace the trade lost from the EU. Though that, of course, remains to be seen.

Webmaster's Commentary: 

It will be interesting to see how the EU's financial arrangements with the UK either evolve, of devolve, after this treaty.

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