Rushed-through Japan-UK FTA signals importance of the relationship beyond trade - GR Japan latest report
Following the visit by Japan’s Minister of Foreign Affairs, Toshimitsu Motegi, to the UK last week, Japan and the UK have announced that negotiations on their free trade deal will soon reach a conclusion. The two nations went into the talks with distinct objectives - Japan was eager to secure early removal of tariffs on automobile and auto parts, while the UK wants greater access to Japan for its agricultural products. The intense time pressure, however, has forced both sides to recalibrate their ambitions and shelve many trickier areas for future discussions. Despite its likely marginal economic impact, the trade agreement is nevertheless a sign of the two countries' deepening commitment to their relationship in an increasingly protectionist and unpredictable world. More details and analysis on the UK-Japan FTA and its implications are in GR Japan’s latest report in the link below.