UK agrees first major post-Brexit free trade deal with Japan

Added On September 13, 2020

Britain and Japan have secured a free trade agreement, Britain's first major trade deal as an independent trading nation after Brexit.
According to the British Department for International Trade on Friday, this deal makes 99 percent of British exports to Japan tariff-free and is expected to increase bilateral trade by more than 15 billion pounds, or about 20 billion U.S. dollars.
The department said the UK-Japan Comprehensive Economic Partnership Agreement goes far beyond the existing EU deal, as it secures new wins for British businesses in manufacturing, food and drink, and tech industries.
It also said the deal is also an important step for Britain towards joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.
Britain and Japan launched free trade negotiations in June. The agreement came after trade talks between Britain and the European Union had suffered a major setback.