Negotiations between the UK and the EU for a bilateral trade agreement remain fraught with difficulties. If the same provision, known as `extended cumulative`, is not applied to Japanese parties under the UK-EU trade agreement, Japanese producers will be forced to review their supply chains. There is a good chance that the EPA will deepen and deepen trade and economic relations between the two partners. Japan and Europe are regions with high per capita incomes, advanced industrial and service sectors and demanding consumer markets. Both sides are engaged in areas similar to future development, such as digitization, interconnectivity, robotics, mobility, life sciences and energy efficiency. This has not gone unnoticed by the Trump administration. As noted by the Wall Street Journal, the Department of Agriculture has released a report expressing concern that Japan`s initiative to expand free trade “threatens to reduce U.S. market share and reduce the profits of U.S. agricultural exporters by giving preferential access to international competitors.” The same article states that the U.S. Meat Export Federation predicts that it will also result in a $1 billion loss for U.S.
beef and pork producers over the next five years. One of the lessons that American exporters are painfully learning from Trump`s trade wars is that no market is ever forced to buy American products – it is likely that buyers choose a more affordable and reliable source and stay with them when it can be found. In other words, if the Trump administration is unable to gain access to the Japanese market that the EU now has – and which the US was about to reach through the TPP before Trump withdrew – there is a real risk that the US will be excluded for years. Mike Hawes, chief executive of the British Society of Engine and Traders Manufacturers (SMMT), said last week: “We would always be committed to free and fair trade. Japan is an important market for us and we warmly welcome anything that reduces barriers. In Japan, demand is increasing, and last year there were 25% of cars built in the UK, which is why we are happy about that in principle. With the exception of the Citroen C-Zero and the Peugeot Ion, the European cousins of the Mitsubishi I-Miev produced in Japan, there are only four models that meet the length requirement. These models are the Smart Fortwo (made in France), Citroen C1, Peugeot 108 and Toyota Aygo (made in Czech Republic). But no one meets the requirement of width.
Faced with this restriction, Europeans are looking for tax breaks and regulatory benefits for their city cars. TOKYO/LONDON — The Japan-U.K. Economic Partnership Agreement will maintain preferential tariffs on industrial products made from components made in the European Union to win the victory of Japanese automakers, the Nikkei has learned. Today, February 1, 2019, Japanese people can take a look at the dairy sector of their grocery stores. It is the day the Japan-EU Economic Partnership Agreement comes into force, which was officially approved by the Japanese cabinet on 6 November. Cheese lovers, in particular, should be interested in the agreement, as, under its terms, Japan will phase out its European cheese import ceiling – and offer consumers an alternative to non-tortuous camembert that fills the shelves of short Japanese milk walks. Oenophiles should do even better, as Japan will completely eliminate tariffs on EU wines.