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© Thomson Reuters 2020.UK, Japan aim for 'ambitious' trade deal
By Tim Kelly TOKYO©2024 GPlusMedia Inc.
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© Thomson Reuters 2020.
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theResident
Please continue Reckless and tell us all about the deal.
sumikonagoya
Good for both sides.
kurisupisu
Japan is really basing a trade deal on its food fro Fukushima?
Not likely, but it seems so in the article.
Toasted Heretic
And yet, nobody here has said such a thing.
Why make false statements?
If anything, people have wished the UK well and only asked that Scotland and the occupied 6 counties can leave the Union.
Bruce Chatwin
Japan has trade agreements with Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam through the CPTPP, also known as TPP11. Japan has a free trade agreement with ASEAN countries including Indonesia, Malaysia, Vietnam, and Thailand. Japan has a Economic Partnership Agreement with India. Since 2012, Japan has been negotiating a free trade agreement with China and South Korea. The negotiations are continuing. Japan has a trade pact with the EU, the Economic Partnership Agreement. The U.S.-Japan Trade Agreement (USJTA) took effect on January 1, 2020.
On the other hand, the UK has trade agreements with powerhouse economies such as Antigua and Barbuda, The Bahamas, Barbados, Belize, Cuba, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago, Colombia, Ecuador, Peru, Fiji, Papua New Guinea, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Chile, Madagascar, Mauritius, Seychelles, Zimbabwe, the Faroe Islands (population 51,000), Georgia, Iceland, Norway, Israel, Jordan, Kosovo, Lebanon, Liechtenstein, Morocco, Palestinian Authority, Botswana, Eswatini, Lesotho, Namibia, South Africa, Mozambique, Switzerland, and Tunisia. The UK's only significant trade agreement is with South Korea.
The UK is over a barrel. The US, Japan, China, etc can demand the terms they want because the UK has only one trade agreement of any significance and so is desperate.
kurisupisu
The UK has a lot going for it regarding food export to Japan but the other way?
I would be Skeptical....
kohakuebisu
This year is where the rubber of Brexit hits the road of reality.
As wipeout says, most favoured nation clauses will restrict what terms Japan can offer other trading partners. These negotiations between the UK and Japan will be held in the wiggle room left by the EU-Japan trade deal. There is no blank slate.
Even if a blank sheet of paper were assumed, it is naive to think trade talks between UK (70 million consumers) and Japan (125 million, nearly 1:2 in Japan's favour) would go as well as those between the EU (500 million consumers at the time) and Japan (125 million, 4:1 in the EU's favour). The UK and Japan do not have polar opposite strengths, so such trade will not be mutually beneficial to everyone in the two countries. There will be losers in some sectors.
Pukey2
Dominic Raab is on which tour? Choose one:
〇 The 'Grovel' tour.
〇 The 'Short end of the stick' tour.
〇 The 'Anything will do' tour.
Sh1mon M4sada
I don't think this ^ is proven yet.
Bilateral trade like what other countries has done in recent time is nothing like bilateral trade of the 50ties. Now it's more about the fit (into the global suppky chain and market place.
Unfortunately what the UK can offer Japan is already offered by other nations, possibly more efficiently. Whereas what Japan can offer the UK isxa very good fit for its high value added economy.
IMHO, this deal is going to be a long drawnout process.
kurisupisu
Already, England is home to a sizeable Japanese population conducting trade very efficiently...
Ascissor
In that case, find a time machine, go back to 2016, and share this insightful remark with Johnson, Gove, and co.
WilliB
The UK and Japan can make a trade deal without having EU bureaucrats involved. And that is the way it should be.
There is no need for Japan to become a member of the EU to trade with the UK, and vice versa.
Jimizo
I don’t know about here, but I have come across those types. I was a reluctant remainer but the childishness of some who’d like to see England suffer because of Brexit is idiotic spite.
My biggest worry is the Tories shaping post-Brexit Britain. It isn’t going to pretty for the less well-off with these dogs off the leash.
N. Knight
Dominic Raab is a moron and would have trouble negotiating a glass of tepid water. The man who resigned as Brexit secretary in opposition to the Draft Withdrawal Agreement that he himself drew up and negotiated in the first place... he's a complete waste of oxygen.
Bruce Chatwin
Classic. Thanks for the chuckle.
smithinjapan
Japan should not rush into this kind of thing, as they often do, wanting to be first. It tends to backfire, and they'll be the first to fail as a result.
smithinjapan
WilliB: "The UK and Japan can make a trade deal without having EU bureaucrats involved. And that is the way it should be."
And Japan should stop asking to be an exception all the time when it DOES deal with other nations, as with the UK, Iran, and constantly with the US. And you watch, the EU is going to be harsh with nations that make special deals with the UK that undermine it, and Japan will turn around and ask to be an exception.
Ken Wyatt
Delighted to see all the many bitter doom and gloom comments from the remoaners. Looking forward to when they're proven wrong and the UK finally prospers.
cleo
Mature cheddar. Crumpets. Scotch.
Only the UK can offer these things.
I do hope Japan takes them up on that offer - assuming CCS is on offer. (Though I'm not too pleased at the prospect of family back in the UK being fed glow-in-the-dark sushi in return...)