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Japan, EU to Open Free-Trade Talks in April
Japan and the European Union have agreed to begin negotiations next month about a free-trade pact that could take two or three years to come to fruition.
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Japan and the European Union have agreed to begin negotiations next month about a free-trade pact that could take two or three years to come to fruition.
The EU wants Japan to reduce non-tariff barriers to European goods and financial services. The latter is seeking the removal of EU tariffs, including duties of 10% and 22% on Japanese cars and trucks, respectively. European carmakers and Japanese farmers are among the most vocal opponents of a pact.
The EU is Japan's third-largest export destination after China and the America. Japan is the EU's seventh-biggest market for its goods and services.
Japan begins free-trade talks with China and South Korea on Tuesday. Japan said earlier this month it wants join the Trans-Pacific Partnership talks. The TPP aims to create a trade agreement that would involve at least 11 countries in the Americas and Asia Pacific.
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