UKs first post-Brexit trade deal with Japan 09-11-2020, 04:40 PM
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As many of you know, the UK exited the European Union (EU) on the 31st of January 2020. Despite the pandemic, post-Brexit negotiations have been underway. The UK is running out of time for it's transition period out of the EU. While there is already trade ongoing between the two nations, they are signing the very first post-Brexit trade deal, which aims to boost their existing trade by over £15 billion. In the next 15 years, this is expected to result in a 0.07% GDP increase for Britain.
Understandably, this doesn't sound like very much. The reality is... that it's not. It will not fill the gap left by the previous trade arrangements with the EU. However, it was an unusually fast deal, with the Japanese government expecting to pass the deal in January. This is hopefully the beginning of many new deals.
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