Hiroshige Seko, Minister of Economy, Trade and Industry «Seko praises the Japan-EU free trade agreement» of NHK WORLD-JAPAN Since its formal exit from the EU in January, the UK is focusing on negotiating new trade agreements with countries around the world, although experts say they are unlikely to replace lost exports to the BLOC if no deal can be reached. «The agreement we negotiated – in record time and under difficult circumstances – goes far beyond the EU agreement, as it allows British companies to make new profits in our large manufacturing, agri-food and technology industries. Japanese Foreign Minister Toshimitsu Motegi said the talks had been difficult, «but we have reached an agreement in principle in just three months at an exceptional rate.» LONDON/TOKYO — The United Kingdom has reached its first major trade deal after Brexit, a deal it has described as «historic» as it struggles to reach a trade deal with its closest trading partners to the European Union. It is therefore not yet certain that the Japanese consumer will benefit from the reduction in tariffs. Price may not be an obstacle for consumers of natural cheeses, either because they enjoy the high-end status of European cheese or because they simply need their solution. In this sense, Brasor finds that it may be the intermediaries who determine prices – not the bureaucrats who set the tariffs – who ultimately determine the actual cost of cheese on the shelves of store books. At least wine and spirits will be duty free from February 1, a Friday, no less. Mike Hawes, chief executive of the British Society of Engine and Traders Manufacturers (SMMT), said last week: «We would always be committed to free and fair trade. Japan is an important market for us and we warmly welcome anything that reduces barriers. In Japan, demand is increasing, and last year there were 25% of cars built in the UK, which is why we are happy about that in principle. «Everyone knows there is a general practitioner on the other side of the Atlantic. Our answer is clear.
We are not social partners, but fair trade people,» said Bernd Lange, who heads the European Parliament`s trade committee. The EU also took care elsewhere in the TTIP (Transatlantic Trade and Investment Partnership) negotiations with the Us in 2016. Earlier this year, it concluded an updated trade agreement with Mexico. The agreement has gradually reduced British tariffs on Japanese cars to zero until 2026, in line with the Japan-EU trade deal. The issue of the automobile was one of Japan`s main interests. Critics argue that the EU-Japan agreement could give too much power to multinationals and undermine environmental and labour standards. «The problem of imbalance in the taxation of subcompact cars, the so-called Kei vehicles, could not be addressed in the free trade negotiations,» he added.