The EU and Japan sign a trade agreement that eliminates almost all tariffs

The European Union (EU) and Japan sign Tuesday a trade agreement that will eliminate almost all tariffs.

The presidents of the European Commission, Jean-Claude Juncker, and the European Council, Donald Tusk, attend a dinner in Brussels.

The agreement, which concerns a third of the world economy and more than 600 million people, removes about 99% of Japanese taxes on products exported to the country. According to the Associated Press, this figure will reach 99% over the years, the difference being due to a few exceptions, such as rice. , a cultural and politically sensitive product that has been protected for decades in Japan

Cheapest wine in Japan, cheaper tea in Europe

So, European wine and pork prices go as Japanese machines, tea and fish will be cheaper in Europe.

In a statement, the Japanese Foreign Ministry revealed that by strengthening ties with the EU, the country hopes

the EU said the liberalization of trade will lead to the growth of exports of chemicals, clothing, cosmetics and beer to Japan, in addition to improving the safety of work in Europe.