Boy, did Donald J. Trump, the bestest president ever, show our foes (formerly known as allies), huh? Oh, sure, he might have bankrupted 10,000 farmers and started a global recession, but those tariffs have finally brought those cheating, dumping trading “partners” to their knees. Now they’ll have to come to the table, begging the bestest deal-maker ever to make a deal.
The deal removes EU tariffs of 10 percent on Japanese cars and 3 percent on most car parts. It would also scrap Japanese duties of some 30 percent or more on EU cheese and 15 percent on wines, and secure access to large public tenders in Japan.
Europe’s food sector is one of the biggest winners from the deal, which should allow it to capitalize on Japanese demand for high-quality cheese, chocolates, meats and pasta.
Japanese car and car parts makers are also expected to increase their sales to Europe, where they have lagged behind European rivals.
Whatever doubts about Mr. Trump’s campaign rhetoric the Japanese may have had were put to rest on January 23, 2017, three days after his inauguration, when the US pulled out of the Trans-Pacific Partnership.
Japan and the EU began negotiating today’s announced agreement in April of that year.