Is the EU-Japan ‘trade deal’ real – or just a stunt?
There is much celebration in Brussels today about what’s being described as a EU-Japan trade deal, but for political rather than economic reasons. Donald Trump has arrived in Hamburg for the G20 summit where he finds himself cast as a wicked protectionist, at odds with a pro-free trade global order. To hammer home this point, the EU is claiming to have agreed a trade “deal” with Japan, with whom Mr Trump pulled out of talks when he abandoned Barack Obama’s Trans-Pacific Partnership. At this stage, Tokyo gave precedence to Brussels – and today’s, erm, political agreement is the result. Donald Tusk, president of the European Council, is already trying to use this to taunt Trump.