STREAMING NOW: Watch Now

EU and Japan free trade deal covers 600 million people

Japan and the European Union have finalized a huge free trade deal that covers 600 million people and almost a third ...

Posted: Dec 8, 2017 2:37 PM
Updated: Dec 8, 2017 2:37 PM

Japan and the European Union have finalized a huge free trade deal that covers 600 million people and almost a third of the global economy.

The Economic Partnership Agreement, which has been in the works since 2011, will remove tariffs on almost all European exports, including cheese and wine. Japanese automakers and electronics firms will face fewer barriers in the EU.

Japan and the EU traded roughly $140 billion of goods last year, according to EU data.

The EU said the agreement, which won preliminary approval in July, will help support more than 600,000 jobs in the bloc that are tied to exports to Japan. Another half a million EU workers are employed by Japanese companies.

Related: Japan and Europe are racing to agree a big free trade deal

The push by Japan and the EU to remove trade barriers stands in stark contrast to the approach taken by President Trump, who pulled the U.S. out of the Trans-Pacific Partnership (TPP) at the start of his presidency.

The European Commission said that the deal "demonstrates the powerful political will of Japan and the EU to continue to keep the flag of free trade waving high."

"We are sending a message to other countries about the importance of free and fair trade, and of shaping globalization," Cecilia Malmstr-m, Europe's top trade official, said in a statement.

The deal must be signed off by individual EU countries before it is implemented.

Closer ties between Europe and the world's No.3 economy could make it harder for U.S. businesses to compete with global rivals, especially when it comes to selling agricultural products such as pork to Japan.

After quitting the TPP, the U.S. showed interest in reaching a separate free trade deal with Japan. The two sides held talks in April, but those have since taken a back seat to Trump's push to renegotiate NAFTA with Mexico and Canada.

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 36680

Reported Deaths: 1250
CountyConfirmedDeaths
Hinds304154
DeSoto200920
Madison150839
Jones123149
Harrison118316
Rankin113719
Neshoba104577
Forrest104343
Lauderdale97281
Scott83115
Jackson80419
Washington75313
Copiah67516
Leake63520
Lee63022
Grenada6259
Oktibbeha62328
Warren60021
Holmes59841
Lamar5847
Wayne56819
Yazoo5667
Lowndes54917
Leflore53956
Lincoln53835
Pike51120
Lafayette5094
Sunflower5058
Panola4616
Monroe46036
Simpson4533
Covington4505
Bolivar41618
Tate39513
Attala38624
Newton37710
Adams36720
Pontotoc3636
Marion34912
Claiborne31511
Pearl River30832
Chickasaw30219
Winston30211
Marshall2973
Jasper2826
Noxubee2799
Walthall2748
Clay26211
Smith25612
Union25612
Coahoma2356
Clarke22825
Lawrence2162
Yalobusha2089
Tallahatchie1974
Montgomery1863
Kemper18414
Carroll18311
Humphreys17410
Calhoun1705
Hancock15213
Itawamba1478
Tippah14711
Jefferson1373
Webster13511
Prentiss1274
Tunica1263
George1253
Jefferson Davis1254
Greene11610
Alcorn1112
Amite1113
Tishomingo1091
Quitman1011
Wilkinson1019
Perry914
Stone772
Choctaw764
Franklin572
Sharkey480
Benton470
Issaquena111
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 54768

Reported Deaths: 1096
CountyConfirmedDeaths
Jefferson7012170
Mobile5061140
Montgomery4599112
Tuscaloosa274353
Madison25359
Marshall205012
Shelby176425
Lee164737
Morgan13975
Baldwin134111
Walker111332
Elmore107622
Etowah106914
Dallas10189
DeKalb10017
Franklin95016
Unassigned77728
Autauga71515
Russell7130
Chambers68530
Cullman6686
Limestone6653
Butler65529
Houston6417
Tallapoosa63069
Lauderdale6006
St. Clair5983
Calhoun5545
Colbert5286
Escambia5128
Lowndes49222
Pike4805
Jackson4422
Coffee4364
Covington43512
Talladega4177
Dale4061
Barbour4022
Bullock37810
Hale36323
Marengo36111
Chilton3452
Blount3311
Clarke3236
Wilcox3158
Marion30914
Winston3095
Sumter29713
Pickens2786
Randolph2759
Monroe2683
Perry2552
Conecuh2388
Bibb2271
Macon2229
Choctaw22012
Greene2009
Henry1573
Washington1529
Lawrence1460
Crenshaw1343
Cherokee1317
Geneva1010
Fayette901
Clay892
Lamar891
Coosa671
Cleburne481
Out of AL00
Tupelo
Clear
78° wxIcon
Hi: 94° Lo: 73°
Feels Like: 80°
Columbus
Clear
79° wxIcon
Hi: 94° Lo: 73°
Feels Like: 83°
Oxford
Clear
77° wxIcon
Hi: 93° Lo: 73°
Feels Like: 78°
Starkville
Broken Clouds
73° wxIcon
Hi: 91° Lo: 71°
Feels Like: 73°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather