Britain to sign first post-Brexit trade deal within weeks after Japan talks
BRITAIN will sign the first post-Brexit trade deal within weeks after talks with Japan.
The discussions, in the wake of 40-plus years of being tied to the European Union, were carried out at breakneck speed.
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Negotiations opened on June 8 and have been conducted daily until today’s “significant breakthrough”.
The top-level dialogue is at an “advanced stage” and ministers believe they could wrap it up by September.
The accord will reduce the cost of Japanese tech devices, such as PlayStations, and allow the UK to sell more luxury cars there.
The arrangement will be implemented on January 1, 2021 — as soon as the UK’s transition period out of the EU expires.
The outline of the agreement is based on the EU-Japan deal from last year.
‘SIGNIFICANT BREAKTHROUGH’
But the UK has sought a further “reduction or elimination” of Japanese tariffs on goods imported from Britain as well as “ambitious commitments on market access” to UK businesses.
A Government source said: “Japan is happening — and it’s happening soon.”
The chances of a deal this year with America were abandoned this month.
But Trade Secretary Liz Truss now hopes this Free Trade Agreement will lead to a wave of arrangements.
She has senior backing to seek membership of the bloc known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership — Ms Truss telling MPs it was “the next logical step”.
That free-trade alliance includes Australia, Japan and New Zealand as well as Canada, Chile and Mexico, accounting for 13 per cent of the global economic output.
The first round of talks concluded yesterday with New Zealand.
Ms Truss said: “We are a step closer to a comprehensive trade deal with a like-minded ally.”
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