07/17/2018, 10.29
JAPAN - EUROPEAN UNION
Send to a friend

No more tariffs on parmesan after Japan and EU sign free trade deal

This is the biggest deal ever reached between the two parties, sending a signal against US protectionism. Under the deal, tariffs are lifted on 99 per cent of Japanese goods and 94 per cent of European goods (rice excluded).

Tokyo (AsiaNews/Agencies) – The new Japan-EU free trade deal, which sends a strong signal against US protectionism, is the “biggest” agreement of its kind between Japan and European Union.  

EU Council President Donald Tusk and Commission head Jean-Claude Juncker in Japan late Monday to sign the agreement.

The signing in Tokyo for the deal, largely reached late last year, is ceremonial.

European consumers will have access to cheaper Japanese machinery parts, tea and fish. Japanese consumers will pay less for cheese such as prmesan, guda and cheddar – as well as chocolate and biscuits.

“This agreement will create an open trade zone covering nearly a third of the world’s GDP,” said Commission spokesman Margaritis Schinas.

The EU – the world’s biggest single market with 28 countries and 500 million people – is trying to boost alliances in the face of Trump’s protectionist administration.

The deal eliminates about 99 per cent of the tariffs on Japanese goods to the EU but remaining at around 94 per cent for European imports into Japan for now and rising to 99 per cent over the years.

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

The EU is optimistic that the deal will bring great results, considering that Japanese consumers have historically coveted European products.

Trade liberalisation will lead to the region’s export growth in chemicals, clothing, cosmetics and beer to Japan, leading to job security for Europe.

Send to a friend
Printable version
CLOSE X
See also
EU accuses China of greater trade protectionism
03/09/2009
Japan against lifting arms sale ban against China
21/01/2005
EU Commissioner says Turkey's entry will end European integration
08/09/2004
Seoul wants to be the “hub linking Europe, Asia and the United States”
07/05/2007
S Korean tiger scares Marchionne into asking for EU tariffs
07/06/2012


Travel