Japan’s EU Free Trade Deal

Good news yesterday that the EU and Japan signed a huge free trade deal on Tuesday that cuts or eliminates tariffs on nearly all goods. A major boost for the global trading system that is under increasing threat from Trumpian protectionism. Trade between the EU and Japan currently stands at €86 billion…

The deal does allow for some regulatory alignment in so much that, for example, car safety and environmental standards will be aligned, Japan will also adopt international labelling standards for textiles and medical products. Something rational brexiteers can live with so long as the regulatory alignment is not restrictive of non-export goods. What the agreement does not require is for Japan to join the customs union or the single market. It does not require the ECJ’s ultimate jurisdiction, instead a mediation panel and the Dispute Settlement Body of the WTO will be the arbitration method. This is normal for free trade agreements.

Remainers can’t explain why the UK can’t have a similar deal with the EU. Anyone might think that the EU is just trying to frustrate Brexit…

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mdi-timer July 18 2018 @ 09:30 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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