[TOKYO] Japan and Britain agreed to lift auto tariffs for a post-Brexit trade agreement in 2026 despite Japan's push to lift the tariffs earlier, the Nikkei Asian Review reported on Sunday.
Japanese Foreign Minister Toshimitsu Motegi is currently in negotiations with British Trade Minister Liz Truss in London. British Trade Minister Lizz Truss said in a statement that they"have reached consensus on the major elements of a deal", and both have announced that they will agree on the principles of a trade deal by the end of August.
However, despite reassurances that the two countries had by and large reached an agreement, auto tariffs and agricultural products have proven to be a sticking point in the negotiations. Japan had hoped to lift tariffs on auto and auto parts earlier than in the current trade deal between the European Union and Japan, which will phase out import tariffs on Japanese vehicles by 2026.
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