Britain and Japan sign post-Brexit trade deal

(BBC) Britain and Japan have formally signed a trade agreement, marking the UK’s first big post-Brexit deal.

The deal, unveiled last month, means nearly all its exports to Japan will be tariff free while removing British tariffs on Japanese cars by 2026.

UK International Trade Secretary Liz Truss called it a “ground-breaking, British-shaped deal”.

But critics have said it will boost UK GDP by only 0.07%, a fraction of the trade that could be lost with the EU.

The two countries had reached a broad agreement in September, and the deal is expected to boost trade between the UK and Japan by about £15bn.

The deal, which was negotiated over the summer, will take effect from 1 January 2021.

But some experts said it was a missed opportunity between the UK and its 11th biggest trading partner.

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