Britain and Japan have struck a trade deal that marks the U.K.s first major pact since leaving the EU.
Trade Secretary Liz Truss and Japans Foreign Minister Motegi Toshimitsu agreed on the deal in principle on a video call Friday morning, dubbing it the U.K.-Japan Comprehensive Economic Partnership Agreement.
“This is a historic moment for the U.K. and Japan as our first major post-Brexit trade deal,” Trade Secretary Liz Truss said in a statement. “The agreement we have negotiated — in record time and in challenging circumstances — goes far beyond the existing EU deal, as it secures new wins for British businesses in our great manufacturing, food and drink, and tech industries.”
Negotiations for the deal, which is based on the text of the EU-Japan trade agreement, started in June. Britain pushed for the new deal to be specially tailored to its economy and fought for special access for British goods and services.
The deal will see “strong tariff reductions” for U.K. pork and beef exports with low tariffs for food and drink products such Read More – Source
