11 September | UK NEWS
The UK has signed its first post-Brexit deal this morning, after completing negotiations with Japan. The deal will attempt to create £15 billion extra in trade between the two nations in the next 15 years.
The deal has been seen as the first major economic step for Britain in its attempt to secure its economic stability once it leaves the EU.
The pact was confirmed by International Trade Secretary Liz Truss this morning during a video conference this morning with Japan’s Foreign Minister, Toshimitsu Motegi.
The talks were completed over an abnormally short amount of time with negotiations lasting around three months.
According to the International Trade Secretary, Liz Truss, the deal will ensure that 99% of products heading to the Japanese market will be tariff-free.
Ms Truss said: “The agreement we have negotiated – in record time and in challenging circumstances – goes far beyond the existing EU deal, as it secures new wins for British businesses in our great manufacturing, food and drink, and tech industries.
“From our automotive workers in Wales to our shoemakers in the North of England, this deal will help build back better as we create new opportunities for people throughout the whole of the UK and help level up our country.”
Mr Motegi said: “It was a very tough negotiation, but we reached the agreement in principle in about three months, at an unusually fast pace.
“While maintaining the high levels of access to the British market under the Japan-EU EPA, we improved our access to the British market on train cars and some auto parts.”
Brexit Party leader Nigel Farage also responded to the news on Twitter: