Post Brexit UK Japanese Trade Deal Is Meh 🤷

Boris Johnson and his International Trade Secretary Liz Truss have tumpleted the new post brexit UK - Japanese Trade deal when in reality it adds almost nothing to the UK economy and its benefits won't be seen until 2035.

#brexit
#ukjapan
#postbrexit
#tradedeal

[roydullman]

I think you dont believe enough. How can you underestimate a whooping 0.07% increase in trade? To celebrate I've increased my daughter's pocket money by 0.07%

[davidanderson]

This Japanese deal is a complete rip off in behalf of Japan. We even got embarrassed by trying to sell cheese to a lactose intolerant country. I have an inside on this as my wife is Japanese and she is laughing at the Brexit fools.

[rjj]

The Japanese call it hari-kiri.
We call it Brexit.

[pygmalion]

Is anyone going to read it before they sign it

[Redrgon]

According to the BBC, "It (Japan) stands to get the lions share, 80%, of the total estimated £15bn boost to trade for both countries." and according to the Financial Times, Japan will not increase quota for what was already agreed between the EU & Japan trade deal and the UK will have to negotiate quota with the EU. If no agreement is reached between the UK & the EU, 99% free tariff on nothing is still nothing.

[bca-biciclindcuaxel]

Don't worry, England will not respect this either :)))

[theother]

The Anglo-Japanese trade deal is important to Japan as it makes it easier for them to restructure their operations post Brexit.
It will allow them to move car production from the UK to the EU with the advantage of not having to make RH drive versions.
The UK market can be served by RH drive vehicles made in Japan which can be shipped at marginal cost alongside the high margin vehicles it ships to the EU.
Meanwhile Brexitters rave about having protected status on cheeses in a country that doesn't produce much cheese and where most of the population are lactose intolerant.

[mdbmichele]

If this deal represents 0.07% all brexiteers need is another 15 deals with economies like Japan to get to one percent. Viva brexit

[helengilry]

The deal is essentially no different to what we already have with Japan.

[Rumpelstyltskin]

To put this into context, Ireland does more trade with the UK then Japan.

[AndyM_YYY]

Does the 0.07% take into account some of the UK companies exporting to Japan are unlikely to exist, or still be located in the UK, after a no deal Brexit?

[leonjfborges]

This is why it’s useless to try to talk to a brexitier.

[marty]

Rees-Moog was saying we wouldn't see the benefits for 50 years. All this was beyond a joke 4 years ago

[davidbaker]

Brilliant deal for Japan.
They put their car factories in the U.K. so they could export tariff free to the EU.
Now we are leaving, probably without a deal, it’s uneconomic to export cars from the UK to the EU.
But there was an argument to keep the factories open to service the U.K. market.

But thanks to this deal, they can run down their car plants in the U.K. & import cars from Japan tariff free.

[pamelaatkinsonscats]

We already had a deal with Japan when we were part of the EU so this deal with them doesn't mean anything in real terms.

[rinikuijstermans]

The UK-Japan deal is like having a salary cut of 6% (loss due to leaving EU) and then getting a raise of 0.07% spread over 15 years.
Let's have a party 🤣🤣🤣
(btw: please bring your own drinks, because I have no idea how to pay for this)

[CatholicSatan]

Meanwhile, and this makes me laugh, BRexiter channels have headlines such as "EU stunned!" etc. Meanwhile, the EU has estimated that the EU-Japan deal will cause its GDP to rise by 0.76% (ten times the UK rate).

[oisnowy]

"A whopping seventy millipercent increase! Imagine that, seventy!" ... is the way to sell it back in DePfeffelstan.

[anthonycbrown]

The BBC and France 24 spent hours summarizing the impact of the Japanese trade deal. Trusty Max dispensed with it in one word: Meh 😗. Well Done!!!

[pauljohnphillips]

I understood that what the UK and Japan signed is not an actual free trade agreement, but a memorandum of understanding. This is usually when the two parties have not quite reached full agreement, but want something to take away. It is more a commitment to work towards a full FTA, than an actual FTA.