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EU, Japan Sign Trade Deal To End Tariffs

Web Desk(July 19, 2018): Japan and the European Union signed a wide-ranging free-trade deal on Tuesday that both sides hope will act as a counterweight to the protectionist forces unleashed by U.S. President Donald Trump.

The ambitious trade pact, which creates the world’s largest open economic area, comes amid fears that a trade war between the United States and China will diminish the role of free trade in the global economic order.“There are rising concerns about protectionism, but I want Japan and the EU to lead the world by bearing the flag of free trade,” Japanese Prime Minister Shinzo Abe said at a news conference after the signing ceremony.The Japan-EU trade deal is also a sign of shifting global ties as Mr. Trump distances the United States from long-time allies such as the EU, NATO, and Canada.

“We are sending a clear message that we stand against protectionism. The EU and Japan remain open for co-operation,” European Council President Donald Tusk, who speaks for the 28 EU national leaders, told reporters.

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