Japan agrees to slash punishing import taxes on British bacon as part of an imminent trade deal with the UK
PIGS will fly as Japan slashes punishing import taxes on UK bacon to seal an imminent trade deal.
The countries are poised to ink Britain’s historic first post-Brexit free trade accord, topping the one signed with the EU last year.
Japanese minister Toshimitsu Motegi will hold talks with Trade Secretary Liz Truss tomorrow in London with the deal in sight.
The Sun understands the agreement will wipe out tariffs on British luxury leather goods that are blighted by 30 per cent tariffs.
UK carmakers are expected to benefit from cheaper costs when buying parts from Japan and Brits will get cheaper electronic goods.
Japan is very protective of its pork industry and agreed to reduce tariffs on imports only within 12 years with the Brussels deal.
Sun says
Hardcore Remoaners who warned about a Brexit induced apocalypse have egg on their faces this week.
For years they claimed that Britain would be too weak or too small to thrive without the EU.
Yet today - just weeks after talks began - our ministers are poised to sign a trade deal with forward-looking Japan.
The happy news is vindication for the 17.4million Brexit voters who fought tooth and nail for independence while a Remainer Parliament did all it could to thwart democracy.
But it’ll also go down a treat with Sun readers of all political persuasions and none: when crippling tariffs on Japanese goods are slashed, cars and electronics will get cheaper.
Free from the bungling and bureaucratic EU, post-Brexit Britain is already proving that it’s nimble enough to strike simple, sensible and speedy deals with sovereign nations all over the world.
We look forward to others following where Japan has led.
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But the UK agreement will speed this up.
The two countries are also understood to have agreed broader protections on famous national products, such as Scotch and Kobe beef, than those agreed with the EU.
Japan is the UK’s 13th largest export market, according to the World Economic Forum.
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