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Tags: APFN | EU | Europe | Japan | Trade

EU, Japan Welcome Deal Boosting Trade between 2 World Powers

EU, Japan Welcome Deal Boosting Trade between 2 World Powers

Friday, 01 February 2019 05:38 AM EST

BRUSSELS (AP) — The European Union and Japan have inaugurated a landmark deal they say will boost trade between the two economic powers and sends the message that international agreements still have a purpose in an age of increasing protectionism.

The agreement that comes into effect Friday will scrap nearly all tariffs on products both sides trade in. It will have a big impact on Japanese exports of cars to Europe and EU exports of agricultural products like cheese to Japan.

EU Commission President Jean-Claude Juncker said: "Europe and Japan are sending a message to the world about the future of open and fair trade."

The EU and Japan account for almost a third of the world's economy and the deal is on average expected to benefit their 635 million citizens.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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The European Union and Japan have inaugurated a landmark deal they say will boost trade between the two economic powers and sends the message that international agreements still have a purpose in an age of increasing protectionism.The agreement that comes into effect Friday...
APFN,EU,Europe,Japan,Trade
130
2019-38-01
Friday, 01 February 2019 05:38 AM
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