On July 17, 2018, the European Union and Japan signed a free trade deal that will cut or eliminate tariffs on nearly all goods between the two nations beginning in 2019. The deal will affect approximately 600 million people and a third of the global economy.
In-house counsel working for companies that offer international business services, financial services, telecoms, transport, and/or distribution will be affected in particular as these sectors are expected to benefit greatly from the agreement. However, counsel can rest assured that there will be no changes to safety, health, or environmental standards, qualification requirements, labor rights, or any working conditions that already exist for trade between the nations.
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