On July 17, 2018, leaders of the EU and Japan signed a sweeping deal doing away with almost all tariffs between them, according to Germany’s DW TV.
The same day, Japan’s Newsroom Tokyo aired its video clip of the Economic Partnership Agreement (EPA) signing.
EU Council President Donald Tusk agreed with an earlier comment made by Japanese Prime Minister Shinzo Abe. Tusk reiterated,
“We are sending a clear message that we stand together against protectionism.”
The business commentator for the Japanese TV news program was more specific,
”While US President Donald Trump is pursuing protectionism policies, Japan’s government hopes the EPA will demonstrate the importance of free-trade.”
If ratified by their respective parliaments, the free trade deal between the EU and Japan could go into effect as soon as 2019.
The two regions currently are responsible for almost one third of world’s GDP and nearly forty percent of global trade, according to Newsroom Tokyo.
Photo Credits: Deal Signing is courtesy of the EU; Handshake is courtesy of the Japanese Government