Japan and European Union reach free trade deal


Posted on: July 6th, 2017 by ABC News No Comments

John Thys/Getty Images(BRUSSELS) — The European Union and Japan have formally agreed on an outline of a free trade deal, the BBC reported.

Few details are known, but the agreement should create a pathway for trade without tariff barriers between the two regions.

Two of the critical sectors are Japanese cars and E.U. farming goods into Japan, according to the BBC.

The outline was signed in Brussels, Belgium, after a meeting between Japanese Prime Minister Shinzo Abe and the European Commission President Jean-Claude Juncker. This came on the eve of the G-20 summit in Hamburg, Germany.

It follows the collapse of the Trans-Pacific Partnership, which was abandoned by President Trump in January.

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