Japan agrees to slash punishing import taxes on British bacon as part of an imminent trade deal with the UK

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PIGS will fly as Japan slashes punishing import taxes on UK bacon to seal an imminent trade deal.

The countries are poised to ink Britain’s historic first post-Brexit free trade accord, topping the one signed with the EU last year.

Trade Secretary Liz Truss and Japanese Foreign Minister Toshimitsu Motegi, pictured in 2019, are poised to sign Britain’s first post-Brexit free trade deal

Japanese minister Toshimitsu Motegi will hold talks with Trade Secretary Liz Truss tomorrow in London with the deal in sight.

HOAR understands the agreement will wipe out tariffs on British luxury leather goods that are blighted by 30 per cent tariffs.

UK carmakers are expected to benefit from cheaper costs when buying parts from Japan and Brits will get cheaper electronic goods.

Japan is very protective of its pork industry and agreed to reduce tariffs on imports only within 12 years with the Brussels deal.

But the UK agreement will speed this up.

The two countries are also understood to have agreed broader protections on famous national products, such as Scotch and Kobe beef, than those agreed with the EU.

Japan is the UK’s 13th largest export market, according to the World Economic Forum.

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Did you miss our previous article…
https://www.hellofaread.com/politics/all-the-things-you-can-and-cant-do-in-the-north-during-fresh-lockdown/

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