Yesterday (Monday 2 November) MPs returned to Westminster after the half-term recess to resume discussions regarding Brexit.
Michel Barnier, the EU’s Chief Negotiator, said it was important to focus attention on talks as the deadline looms – meeting with Lord David Frost to reach a compromise.
Whilst the media turns its attention to the second national lockdown commencing this Thursday, it is important to highlight that Britain has signed its first big post-Brexit deal with Japan.
The agreement, negotiated over the summer, will take affect from 1 January 2021 and means that nearly all exports to Japan will be tariff free – working towards removing British tariffs on Japanese cars by 2026.
The new deal works similarly to the existing EU-Japan deal, but has an extra chapter on digital trade and provisions on agricultural exports.
Speaking at a joint press announcement, Japan’s Foreign Minister Toshimitsu Motegi said a deal was crucial for Japanese business, particularly carmakers like Nissan and Toyota that use parts from across Europe in vehicles that are assembled in the UK.
Further important discussions will take place this week, although may be altered in line with the announcement of a second lockdown. We are expected to hear more from the Commons with relation to Northern Ireland, the UK Internal Market Bill and post-Brexit police cooperation.
With less than 60 days until the transition period deadline, businesses are encouraged to get prepared with the support of the Chamber’s EU Exit advice hub. To find out how we can support you, please visit here.