The European Union, which our president described as a “foe” in trade, has just signed one of the largest trade pacts in history with Japan.
As the president of the United States continues to ramp up his devastating trade war with Canada, China, and the European Union, the rest of the world is moving forward with their economies.
Japan and the European Union have just signed one of the largest free trade agreements in history, marking a new era of economic cooperation between the two entities.
The deal will encompass a quarter of the entire global economy and flies in the face of increasing protectionist policies.
“The document we signed today is much more than a trade agreement. What we’re saying is that we believe in open, fair and rules-based trade. What we are saying is that a trade agreement is not a zero-sum game, but a win-win for the involved parties.” — European Commission President Jean-Claude Juncker
The deal is designed to eliminate a majority of the $1.1 billion in duties that companies from the E.U. pay to Japan.
While the agreement still needs to be approved, the consensus is hopeful that it will take effect in 2019.
Iron Triangle Press will continue to follow this story.