The European Union and Japan have finalized a trade agreement that would create the world’s largest open economic zone when it comes into effect in 2019.
The deal cuts tariffs, harmonizes product regulations and liberalizes public procurement for a market of 600 million people.
The EU and Japan account for 28 percent of the world’s economic output.
In a joint statement, European Commission president Jean-Claude Juncker and Japanese prime minister Shinzō Abe said the deal demonstrates their commitment “to keeping the world economy working on the basis of free, open and fair markets with clear and transparent rules.” Read more
Europe, Japan Send “Strong Signal” with Trade Deal
European and Japanese leaders have announced a landmark trade agreement on the eve of the G20 summit in Hamburg, Germany, where America’s president, Donald Trump, is expected to press his case for protectionism.
The treaty has yet to be finalized. A summit in Brussels was hastily arranged to “send a strong signal,” as the EU’s trade commissioner, Cecilia Malmström, put it earlier this week.
“We believe we should not build walls or raise protectionism,” she said. Read more
Geopolitics is about trends. Individual events add up to patterns; patterns melt into inertia; inertia gains social gravity; inevitably, maps are redrawn, regimes fall and through the litany of news reports we wonder how it all came about.
So while it is beyond cliché to do a yearly review, for geopolitics, it’s also extremely useful. What were the trends in 2015 and where might they go in 2016 and beyond? Let’s get super. Read more
Negotiators from Japan, the United States and ten other Pacific nations reached an agreement for a comprehensive trade pact on Monday that would be the signature achievement of President Barack Obama’s economic “pivot” to Asia.
The deal comes after five years of talks and despite opposition from farm lobbies in Japan to trade unions in America who fear that freer trade across the Pacific Ocean will depress prices and wages. Read more