Japan and European Union sign trade agreement amid worries about Trump’s trade war

Japan and the European Union signed a sweeping free trade deal Tuesday saying they were sending a "clear message" against protectionism, as Washington puts up barriers and threatens a trade war.

The leaders promoted the benefits of a free trade deal that is set to eliminate almost all tariffs on products traded between Japan and the EU.

It comes as Trump continues to unsettle allies and provoke rivals with his aggressive "America First" trade policy. We are predictable - both Japan and [the] European Union - predictable and responsible and will come to the defence of a world order based on rules, freedom and transparency and common sense.

The UK will be able to take advantage of the new deal during the Brexit implementation period, now scheduled to end in 2020, but it will then need to negotiate its own trade deal with Japan and with the EU.

The deal now requires ratification by the European Parliament - a move expected in the coming months - and by Japanese legislators. It was previously reported that if the deal does enter into force before Brexit, it could apply automatically to Britain during a post-March 2019 transition period of around two years.

European Commission President Jean-Claude Juncker, European Council President Donald Tusk and Japanese Prime Minister Shinzo Abe.

India orders all Mother Teresa care homes inspected
Last week, a woman staff, Anima Indwar, and Sister Consalia were arrested for allegedly selling children born in the centre. Missionaries of Charity spokeswoman Sunita Kumar declined comment on the government statement.

Juncker said the signatories of the agreement were making "a statement about free and fair trade, we are showing that we are stronger and better off when we work together".

"Both sides have granted concessions to the other (eg Japan on agriculture, and European Union on cars), and come up with a balanced outcome that will give world trade a significant boost at a time of marked uncertainty", he said.

'There is no protection in protectionism, ' he said. About 94 per cent of the tariffs on European exports to Japan will be lifted, rising to 99 per cent in the future.

Japan and the EU account for about a third of global GDP and their trade relationship has room to grow, according to EU officials, who expect the deal to boost the EU economy by 0.8 percent and Japan's by 0.3 percent over the long term. But they will bring Japanese consumers lower prices for European wines, pork, handbags and pharmaceuticals.

Once ratified by parliaments on both sides, the EU-Japan trade deal will eliminate about 99% of tariffs on Japanese goods, including on cars, from the eighth year after the deal is implemented, with tariffs scrapped on auto parts immediately.

The difference is due to exceptions such as rice, a product which is culturally and politically sensitive and has been protected for decades in Japan.

Brushing Russia probe aside, Trump, Putin lay groundwork for future talks
As such, his extraordinary performance on Monday fueled criticism of his presidency from both the right and left. As such, the former California governor didn't hesitate to call Trump's performance an "embarrassing" display.

The major step toward liberalising trade was discussed in talks since 2013 but is striking in the timing of the signing, as China and the U.S. are embroiled in trade conflicts.

The US is proposing 10% tariffs on a 200 billion dollar (£151 billion) list of Chinese goods. Beijing has responded by imposing identical penalties on a similar amount of American imports.

The deal is in stark contrast to the trade messages of the US President. The partnership includes Australia, Mexico, Vietnam and other nations, although the United States has withdrawn.

"Today's signature of the EU-Japan Economic Partnership Agreement is a landmark moment for global trade", he said.

Europe's food sector is one of the biggest winners from the deal, which should allow it to capitalize on Japanese demand for high-quality cheese, chocolates, meats and pasta.

Putin rejects claims of Russian influence in 2016 election as ‘utterly ridiculous’
It is the most serious mistake of his presidency and must be corrected - immediately", Gingrich tweeted . Former House Speaker Newt Gingrich and one of the president's closest supporters too criticised him.

Related News:

  • Tiger Woods: I thought I might never play the Open again

    This is our oldest championship, and to come back to such a historic site just brings back so many great memories. As he stood on the range for the first time that week, he saw a 100-meter sign ... and took dead aim.
    Usain Bolt set for six-week trial with Central Coast Mariners

    Usain Bolt set for six-week trial with Central Coast Mariners

    The Mariners, who announced the appointment of Mike Phelan as sporting director on Monday, said the initial proposals were for a six-week period.
    Showtime defends Sacha Baron Cohen against Sarah Palin

    Showtime defends Sacha Baron Cohen against Sarah Palin

    The prank comes after Sarah Palin accused Cohen, 46, of duping her into doing an interview by posing as a wounded veteran. Another shows him trying to convince Bernie Sanders of a nonsensical plan to make everyone the 1%.
  • Demi Moore makes surprise appearance at roast of ex-hubby Bruce Willis

    Demi Moore makes surprise appearance at roast of ex-hubby Bruce Willis

    Demi Moore poked fun at ex-husband Bruce Willis during a comedy roast , during which she claimed he was 'dead the whole time'. She joked: 'Bruce considered the end of our marriage his biggest failure. "I look at our marriage like The Sixth Sense ".
    Woman Charged in Selena Gomez Email Hacking

    Woman Charged in Selena Gomez Email Hacking

    Variety also revealed at the time that the photos looked like it came from the couple's vacation at Bora Bora in 2015. The specific accounts she gained access to were a Yahoo and iCloud handle Selena shared with her assistant.
    Sorry Real Madrid fans, Kylian Mbappe says he won't move from PSG

    Sorry Real Madrid fans, Kylian Mbappe says he won't move from PSG

    The emote involves the player putting their hand to their head in an L shape and dancing around in front of their beaten enemy. When it comes to popular culture, few games can compete with Fortnite in terms of relevance right now.
  • Astronomers Have Discovered a Dozen New Moons Circling Jupiter

    A team of astronomers is reporting the discovery of a dozen new moons circling the giant gas planet. These satellites are part of a large group of moons that orbit in retrograde far from Jupiter.
    Manchester United boss Jose Mourinho blunt in his assessment of Raheem Sterling

    Manchester United boss Jose Mourinho blunt in his assessment of Raheem Sterling

    Martial returned to Carrington for pre-season training last week, just a month after his future was plunged into doubt. It is thought the club are willing to stump up £92million for the pair.

    Amazon's Prime Day Sales Soar Despite Glitches, Feedvisor Says

    Shoppers clicking on many Prime Day links Monday got only an abashed-looking dog with the words, "Uh-oh". Good luck to all those planning on taking advantage of the Prime Day deals.
  • Campaign for new Brexit vote gets boost from ex-minister Greening

    Campaign for new Brexit vote gets boost from ex-minister Greening

    At the same time , the prime minister is also testing her plan with the European Union , as Brexit negotiations resumed in Brussels on Monday.
    What will Putin get out of Trump?

    What will Putin get out of Trump?

    Relations between Washington and Moscow have been at their lowest point in the post-Cold War era. He added: "There are quite a few of them for us to pay attention to".
    Amazon Prime Day Starts Today, Which Means You Need Amazon Prime

    Amazon Prime Day Starts Today, Which Means You Need Amazon Prime

    Boscov's is having its midsummer clearance sale with items 50 to 80 percent off including, clothing, swimsuits, and accessories. It also said Amazon fulfilment center jobs offered competitive pay and comprehensive benefits from the first day of employment.


Most liked

1,000 Poundworld jobs to go as administrators shut another 80 shops
Poundworld's founder Chris Edwards has previously criticised Deloitte for turning down an offer to buy the business back. The news comes three days after the business announced it was closing 25 stores, resulting in 242 job losses.

Child stuck in washing machine filling with water
The next day, though, it became obvious that the kids weren't heeding their warnings, and their day got off to a terrifying start. Lindsey posted about the incident on July 7, explaining that she and her husband had just brought home the new machine that week.

Samsung unveils 8Gb LPDDR5 DRAM chip
At 6,400 Mbps, LPDDR5 can transfer around 51 GB in one second, which Samsung says is the equivalent of roughly 14 HD video files. It's pertinent to mention here that Samsung was the first to bring the 8GB LPDDR4 chip to mass production back in 2014 as well.

Trailer for Ruth Bader Ginsburg biopic 'On the Basis of Sex'
Jones has said in interviews that she was a "crazy person" about getting Ginsburg's borough-specific NY accent just right. Jones looks to be spot-on as the notorious RBG , and Hammer is ideal casting as the mild-mannered Marty.

Trudeau blasts Putin, Russia following Finland summit but stays mum on Trump
His statement echoed that of Republican Senator John McCain, who is also the chairman of the Senate Armed Services Committee. Mr Trump said he and Mr Putin would discuss a range of issues, from trade to the military, along with missiles and China.

3 dead, dozens hurt in highway multi-vehicle crash
The bus company was unable to immediately provide information about the origin or destination of the bus. It is unclear whether the three victims were on the bus or in one of the other vehicles.

FDA recalls blood pressure, heart failure medications after cancer-causing agents found
Valsartan is also used in other generic medicine but not all medicines containing the ingredient are being recalled by the FDA. The authority says the drug, valsartan, has chemicals that may cause cancer and has also recalled it from markets.

Orioles Just About Ready to Pull Trigger on Manny Machado Trade
Machado was drafted by the Orioles with the third overall pick in 2010 and has been a starter in Baltimore since 2012. Machado insists he's not thinking about whether Tuesday night might be his last in Orioles attire.

FCC Throws Wrench Into Sinclair Media Megadeal
Satellite dishes outside the headquarters building of Sinclair Broadcast Group in Hunt Valley, Maryland. He sent the question to an administrative hearing judge, something that can delay or even kill a deal.

Liverpool complete signing of Xherdan Shaqiri from Stoke City
Leaving Stoke after two seasons, the Swiss star can't wait to get started back in the Premier League with Liverpool . And after seeing Shaqiri don his old shirt number, Carragher had a little message for Liverpool's latest recruit.

Wimbledon: Mike Bryan wins 17th Slam doubles title
No breaks in the fifth set were seen until the 11th game - when Bryan and Sock broke Klaasen and Venus to take a 6-5 lead. Venus has one title of the year as he and Klaasen took home the doubles title at Marseille.

Planemakers plot course through trade, Brexit worries to air show deals
Speaking about the Boeing deal Qatar Airways Group Chief Executive, His Excellency Mr. The order was announced at the Farnborough Air Show.

Brexit tests for Theresa May as premiership hangs in the balance
Treasury Parliamentary Private Secretary Scott Mann has handed his resignation in protest over the so-called " Chequers Deal". Labour shadow chancellor John McDonnell said such a vote, listed for Tuesday evening, shows the Government is in "chaos".

Bale: I was frustrated at not starting the Champions League final
He came on from the bench to score two goals , and handed Real their third consecutive title. Manchester United have been consistently linked with Gareth Bale for several summers.

Parliament vote to reveal extent of anger over May's Brexit plan
Sir Bernard told the programme that the Chequers plan was "dead", with opposition from both wings of the Tory party. The government has so far provided no reason for the motion, which Labour is reportedly set to vote against.