Connect with us

Business News

Japan-EU Sign Massive Trade Deal to Counter US Threats

Published

on

Japan and the European Union (EU) signed a free trade deal thus hitting out at Donald Trump’s unilateralism and protectionism. This wide-ranging free trade deal between Japan and the European Union was signed at a ceremony in Tokyo.

The President of the European Council, Donald Tusk and the President of the European Union, Jean Claude Juncker were both present in Tokyo and signed the deal with Japan’s Prime Minister Shinzo Abe.

The deal comes in the wake of trade wars picked up by the US against China and the European Union. The trade war was being seen a big danger looming on free trade given the protectionist mood of the US and Donald Trump’s unilateralism. This pact signed between Japan and EU shall create the world’s largest open economic area amid the US drama. This deal is meant to safeguard the diminishing role of free trade in the global economic scenario.

The Japanese Prime Minister said during the ceremony that there are rising concerns about protectionism which need to be addressed. He said that he wants Japan and the European Union to lead the world by bearing the flag of free trade.

Donald Tusk further said that this deal is a clear message that Japan and EU stand against any form of protectionism. He said that EU and Japan shall remain open for cooperation.

Largest Ever Deal Negotiated By The EU

The deal signed between Japan and the European Union will now need to be ratified by the European Parliament and the Japanese legislators. The draft could be tabled in the coming months. This is the largest ever negotiated deal by the EU and it will be a bridge between 600 million people across both the markets. The officials of the European Union hope to bring it into effect by 2019 in the very beginning.

After the deal is signed, Japan will remove tariffs on 94% of all imports from the EU including 82% tariffs on farms and fisheries.

More News at EurAsian Times

Advertisement
Advertisement

Facebook

FEATURED

SAUDI-IRAN SAUDI-IRAN
Featured32 mins ago

Both Saudi Arabia & Iran ‘Shot-Down’ Pakistan’s Proposal On Kashmir; Reaffirm Support To India

Once again, Pakistan has failed to place its rhetoric on Kashmir among its “key allies” after Saudi Arabia and Iran...

macron-erdogan macron-erdogan
Europe58 mins ago

French Macron vs Turkish Erdogan: Clash of Personalities, Ambitions or Civilizations?

The French government has called for a crackdown on “radical Islam” following the beheading of a history teacher for showing...

SANSKRIT SANSKRIT
Featured1 hour ago

Did NASA Accept That Sanskrit Is The Best Suited Language For Computer Programming?

Social media is abuzz with hailing Sanskrit as the “best language” for computers, citing a National Aeronautics and Space Administration...

Karot-Hydropower-Project Karot-Hydropower-Project
Featured2 hours ago

Crack Appearing In Pakistan, China Relations As Beijing Demands Higher Interest Under CPEC?

Beijing’s ambitious Belt and Road Initiative (BRI) hailed by Pakistan and supported through the China-Pakistan-Economic-Corridor (CPEC) has reportedly hit a...

HYPERSONIC-MISSILE HYPERSONIC-MISSILE
Americas13 hours ago

Outstripped By Russia & China, US To Adopt Chinese Model In Developing Hypersonic Weapons

After vehemently criticizing China for its civil-military fusion model, Pentagon has now decided to follow China’s lead by awarding a...

XB-51 XB-51
Americas13 hours ago

Watch – The Historic US’ XB-51 Attack Aircraft That Was Shelved For Its Weird Looks & Unorthodox Features

Long before the dawn of modern aircraft like the F-35s, F-22 Raptors, the Nighthawk, and even the Blackbird, the United...

US-AIRLINES US-AIRLINES
Featured14 hours ago

World’s Busiest Airports – French CDG Beats London Heathrow, Beijing Airport Hit The Hardest

The air travel industry saw its darkest months as traveling was restricted around the world amid the COVID-19 pandemic. Beijing...

qatar-saudi qatar-saudi
Featured15 hours ago

US Warns Its Citizens Of An Imminent Suicide Drone Attack On Riyadh, Saudi Arabia

Scores of nations across the globe led by the likes of the United States, Israel, Turkey, China, and the United...

US-ELECTIONS-20202-TRUMP-BIDEN US-ELECTIONS-20202-TRUMP-BIDEN
Americas18 hours ago

US Air Force Scrambles F-16 Jets Over A Donald Trump Rally; Fires Warning Shots – WATCH NOW

The audience at a Trump campaign rally in Bullhead City, Arizona, were caught by surprise when a US Air Force...

Terrorism-Pakistan Terrorism-Pakistan
Featured18 hours ago

France Knife Attack: Another Person Beheaded In France; Officials Calls It Terror Attack

Three people have been killed in a knife attack in the French city of Nice, according to the latest reports....

Advertisement