Japan Trade deal! Japan Trade deal! - Page 2
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  1. #11

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    Quote Originally Posted by clearedforlanding View Post
    Was it just me who couldn't keep a straight face when our trade secretary was whittering on about Melton Pork Pie exports to Japan on morning TV today?
    Quite right. They need to focus on the core offer:

    British tea, jam and biscuits will be at the heart of Britain's Brexit trade plans
    Quote Originally Posted by Bean
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  2. #12

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    Quote Originally Posted by Old Greg View Post
    During trade talks, the trade secretary heard the Japanese mention "typhoon". Thinking they wanted tea it was included
    in the deal.
    Last edited by Paddy; 11th September 2020 at 20:43.
    "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

  3. #13

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    Quote Originally Posted by WTFH View Post
    Is it only advisory?

    I mean, a deal that's worth half as much as the previous deal is great deal!
    Am I understanding the article(s) correctly, it's 15bn on top of any existing deal? 29+15?

  4. #14

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    Quote Originally Posted by TheGreenBastard View Post
    Am I understanding the article(s) correctly, it's 15bn on top of any existing deal? 29+15?

    It replaces the existing deal - since the existing deal was with the EU.

    IF the new deal was worth 29+15, I'm sure that would be the figure that the Pro-Brexit papers would be showing.

    As it stands, we've got a trade deal to sell cheese to a country that doesn't eat much cheese, but not only that, we've got them to recognise some of our cheese (e.g. Wendsleydale) as being the new UK equivalent of PGI. (since PGI is an EU term)
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  5. #15

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    Quote Originally Posted by WTFH View Post
    It replaces the existing deal - since the existing deal was with the EU.

    IF the new deal was worth 29+15, I'm sure that would be the figure that the Pro-Brexit papers would be showing.

    As it stands, we've got a trade deal to sell cheese to a country that doesn't eat much cheese, but not only that, we've got them to recognise some of our cheese (e.g. Wendsleydale) as being the new UK equivalent of PGI. (since PGI is an EU term)
    If it is like-for-like then the opening of the Gov release is certainly a bit "creative":

    The UK has secured a free trade agreement with Japan, which is the UK’s first major trade deal as an independent trading nation and will increase trade with Japan by an estimated £15.2 billion.

  6. #16

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    Although it is being lauded as a new trade deal, it is still only 'in principle'. The Japanese still haven't announced it and neither country has released the actual treaty yet. Until that is done, I wouldn't hold your breath

    You also have to remember that it pretty much replicates everything the UK already has with the current trade deal under EU rules except for one large aspect...If the UK imports something from Japan and then uses that in goods to export to the EU, if there is a 'no deal' then there is a lot more paperwork and tariffs to be paid on top so not a 'win win' situation in that case
    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

  7. #17

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    Quote Originally Posted by WTFH View Post
    It replaces the existing deal - since the existing deal was with the EU.

    IF the new deal was worth 29+15, I'm sure that would be the figure that the Pro-Brexit papers would be showing.

    As it stands, we've got a trade deal to sell cheese to a country that doesn't eat much cheese, but not only that, we've got them to recognise some of our cheese (e.g. Wendsleydale) as being the new UK equivalent of PGI. (since PGI is an EU term)

    The UK has secured a free trade agreement with Japan, which is the UK’s first major trade deal as an independent trading nation and will increase trade with Japan by an estimated £15.2 billion.
    I don't know how you can try to spin this negatively.

  8. #18

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    Quote Originally Posted by jayn200 View Post
    I don't know how you can try to spin this negatively.
    As Britain currently has no explicit trade deal with Japan apart from the one via the EU, then trade is basically 0 although you can see how much trade the UK does with Japan under the EU treaty in the figures below (its around 14bn). Once Britain frees itself from the shackles of the EU, then the new trade deal will be worth 15bn per year. The question to be asked is how much is the current trade deal via the EU worth and is that 15bn an improvement or not?

    This might be the document from HM Gov, but doesn't actually say when it was written:

    https://assets.publishing.service.go...s_approach.pdf

    And these are the official government trade figures:

    https://assets.publishing.service.go...sion_final.pdf

    Some further points:

    The deal removes Britain’s tariffs on Japanese cars in stages to zero in 2026, which is the same as in the Japan-EU trade agreement.
    According to various websitea:

    British exports to Japan are worth an impressive £14.8 billion a year, pretty much evenly split between goods and services, making Japan the UK’s 7th largest market on a value added basis.
    UK exports of trade goods to Japan were worth around 8.3 billion U.S. dollars in 2019, a decreased from the previous year.
    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

  9. #19

    Prof Cunning @ Oxford Uni

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    Quote Originally Posted by TheGreenBastard View Post
    If it is like-for-like then the opening of the Gov release is certainly a bit "creative":

    The UK has secured a free trade agreement with Japan, which is the UK’s first major trade deal as an independent trading nation and will increase trade with Japan by an estimated £15.2 billion.
    I've just noticed it.

    The creative bit is after the word "billion". It's a full stop.

    It doesn't say £15.2 billion PER YEAR. It's a figure with no time against it. Sign a 5 year treaty, and £15.2 becomes £3.04

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  10. #20

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    Quote Originally Posted by WTFH View Post
    I've just noticed it.

    The creative bit is after the word "billion". It's a full stop.

    It doesn't say £15.2 billion PER YEAR. It's a figure with no time against it. Sign a 5 year treaty, and £15.2 becomes £3.04

    The devil is in the details
    Yeah it could be but you tried to spin it as a decrease in trade when it isn't.

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