Agreement between the EU and Japan to eliminate tariffs; Trump trembles

The European Union and Japan will sign a vast trade deal on Tuesday that will eliminate almost all tariffs, a move that seems to defy concerns over trade tensions sparked by US President Donald Trump's policies.

The signing of the agreement, which was mainly forged last year, will take place in Tokyo and is ceremonial. It was due to be held earlier this month in Brussels, but Japanese Prime Minister Shinzo Abe canceled his trip because of floods and landslides that killed more than 200 people in southwestern Japan.

The President of the European Council, Donald Tusk, and the European Commission, Jean-Claude Juncker, who arrived Monday in the country, will attend the gala dinner held at the official residence of Abe.

Both sides welcomed the agreement, which covers one-third of the world's economy and more than 600 million people.

European wine and pork prices will be lower for Japanese consumers, while Europeans will see cheaper Japanese machines, tea and fish.

The agreement eliminates about 99% of tariffs on Japanese products in the EU and keeps them at 94% for European imports to Japan, before rising to 99% in a few years. The difference is due to exceptions such as rice, a sensitive product both culturally and politically in the Asian nation, where it has been protected for decades.

By strengthening its ties with the EU, Japan hopes to revitalize reciprocal direct investments, fight other global trends towards protectionism and improve the positioning of its brands, the Foreign Ministry said. in a statement.

The EU explained that liberalization of the market will lead to increased exports of chemicals, clothing, cosmetics and beer to Japan, which will create job security in the region.

Historically, Japanese consumers have coveted European products, so lowering their prices could boost spending.