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Britain signs first major post-Brexit trade deal with Japan

Britain signs first major post-Brexit trade deal with Japan

23 Sept 02:24 Key points summarised by AI
  • Britain secured its first major post-Brexit trade deal by formally signing an agreement with Japan, signaling its new status as an independent trading nation.
  • The agreement aims to make 99% of UK exports to Japan tariff-free, potentially boosting trade by £15.2 billion and phasing out tariffs on Japanese cars by 2026.
  • Negotiated swiftly in just over four months, both countries intend for the deal to come into force on January 1, 2021, demonstrating a shared commitment to free trade.
  • Japan welcomed Britain's expressed interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), offering support for its accession.
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