In an interview with Reuters, Hiroshi Matsuura, Japan’s Chief Negotiator for trade talks with Britain, said Tokyo wants to reach a trade agreement by the end of this month.
Key quotes
“It is our highest priority to achieve an agreement within the time frame... We need to adjust ambitions to a realistic level,”
“Negotiations would be based on the EU-Japan trade pact and Japan is seeking a higher commitment if possible.”
“Digital trade would be an area where both countries could agree on a higher level of deal.”
“The auto industry is an important industry for Japan, we want to seek higher level of trade deal.”
“We want at least the same level of tariff condition on autos with Britain as we have under the trade pact with the EU.”
Recall that Japan’s Foreign Minister Toshimitsu Motegi and British Trade Minister Liz Truss agreed last month on a swift deal on an economic partnership to secure business continuity.
USD/JPY in lows
USD/JPY is testing lows near 107.70, having fallen from multi-week highs above 108.00. The tepid market sentiment has returned amid the continued rise in the coronavirus cases globally.
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