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'Looks like there will be disinvestment by Japanese companies in UK financial services sector for 2021 too'
12/08/2021
Looks like there will be disinvestment by Japanese companies in UK financial services sector for 2021 too. Nomura International PLC has just notified Companies House that they have reduced their capital from US$11.2bn to $3.2bn.
I see its "this trade deal is going to be really amazing / bad" morning, and I need to summon all my centrist trade energies in the hope a few people might see through the hype both ways and realise that UK joining CPTPP doesn't make that much impact any which way.
Japanese prime minister Shinzo Abe has said Theresa May’s Brexit deal has his country’s “total support”, adding that the “whole world” wants to avoid the UK crashing out of the EU.
Prime Minister Shinzo Abe has urged Boris Johnson, Britain’s incoming prime minister, to avoid a no-deal exit from the European Union.
Anger as government admits it will fail to strike Japan or Turkey trade pacts by exit day in event of no-deal
21/02/2019
The government has been accused of breaking its promises after it emerged that key trade deals would not be ready by Brexit day in a no-deal scenario.
British PM is now more likely to push for 'harder' divorce from EU.
Britain's car industry risks losing out even if there is a post-Brexit trade deal with the EU, according to documents seen by the BBC.
Tokyo will need to know what EU-UK relationship will be, experts warn.
Boris Johnson’s Big Lie - Guy Verhofstadt
26/06/2019
While Boris Johnson, the likely successor to British Prime Minister Theresa May, takes his country down a path of diminished trade, the European Union is negotiating one of the largest free-trade agreements in the world. One really has to wonder what the "buccaneering" Brexiteers have to complain about.
Increasingly, doing business with China involves a certain loss of sovereign power. / No matter how appealing a trade deal between Britain and China, it comes with costs. For a start, greater trade with China invariably means larger trade deficits.
Iter is a collaboration between China, the EU, India, Japan, South Korea, Russia and the US - all of whom are sharing in the costs of construction.
Brexit has hit UK's position as a gateway to Europe for imports, say freight firms [3 mins]
06/08/2021
Brexit has damaged the UK's position as a gateway to Europe for imported goods and increased red tape.
About 54 percent of Japanese companies with operations in the United Kingdom have been negatively impacted by the country’s planned exit from the European Union.
Brexit Opportunities Abound – Part 2
17/02/2022
Continuing the letter to Jacob Rees-Mogg, reminding him – he seems to need reminding – of the many new opportunities created by Brexit.
Brexit trade deals will be worse than current EU deals, says Liam Fox's former trade chief
24/03/2019
Countries are likely to offer the United Kingdom worse trade deals than it currently enjoys as a member of the European Union, the former head of Liam Fox's International Trade Department has told Business Insider.
The number of Japanese firms in the UK fell by 12 percent between 2014 and 2019. / Brexit drove a shift in Japanese firms out of the U.K. and toward continental Europe, a report shows.
More Japanese firms could follow Honda and leave Britain in the coming months if the uncertainty caused by Brexit is not lifted soon, the country’s ambassador has said.
Brexit vs Global Britain
18/06/2019
Real pay set to be £470 lower per worker each year, say top economists. / “We can’t blame Brexit for all of the 5.2 per cent GDP shortfall … but it’s apparent that Brexit is largely to blame,” said John Springford, author of the CEF study.
Japan said UK-EU deal was still crucial for Japanese business, especially its carmakers.
The agreement reached after years of negotiations is forecast to boost trade by more than £30 billion a year.
Tokyo is the biggest winner of the UK’s accession to the CPTPP.
Can farmers send lamb to Japan after Brexit?
30/07/2019
"It is correct to say that Japan has just opened its market to UK lamb imports. But the government's own estimate of the potential worth of the agreement suggests it will be a drop in the ocean compared with current UK lamb exports to the EU."
Tariff hit for electric vehicles likely to be £2,800 per car, with risks to UK’s net zero plans.
Voters promised a Brexit boon will consider bid to keep Nissan and Toyota as ‘ridiculous’, prime minister warned.
US, European, Japanese and Chinese patients could get novel medicines ahead of patients in the UK after Brexit, the CEO of French pharma Ipsen has said in an interview.
Speaking to Sky News, a former British ambassador to Japan noted the impact of Brexit, saying many companies are maintaining a presence in the UK, but moving the bulk of their operations to Europe. / Asked about the former ambassador's assertion, Labour's shadow environment secretary Jim McMahon told Kay Burley: "To some degree, it's a natural consequence of leaving the single market."
The EU has in place, or is negotiating, trade agreements with countries and regions around the world.
EU's Guy Verhofstadt attacks Boris Johnson for 'false promises, pseudo-patriotism, and foreigner bashing' over Brexit
27/06/2019
European Parliament Brexit chief says likely next prime minister is 'a man who continues to dissemble, exaggerate, and disinform the public about Brexit'.
The EU and Japan's Economic Partnership Agreement entered into force on 1 February 2019.
The European Union and Japan will launch the world’s largest free trade zone early next year after their economic partnership cleared a final hurdle on Wednesday. Some 70 percent of European Parliament lawmakers backed the agreement that binds two economies accounting for about a third of global gross domestic product and signals their rejection of protectionism.
Find here explanatory factsheets and infographics.
The world's biggest such deal, it covers nearly a third of global GDP and 635 million people.
After a February meeting between U.K. Prime Minister Theresa May and 19 Japanese business chiefs, Tokyo’s ambassador to Britain warned what might happen if Brexit took an unfavorable turn for foreign investors.
Full Fact however points out that the analysis was relative to 2018 when the UK was a member of the EU, and neither had a free trade agreement with Japan.
In the political realm, no one knows how Brexit’s long-running theater of the absurd will end. But for much of the business world, Britain’s departure from the European Union has effectively happened.
The prime minister has imperilled peace in Northern Ireland, and every day the economic fallout worsens.
For 30 years the UK and Japan have been the best of trading partners – but no longer. What’s changed?
'It is hard to predict how full Brexit would play out, because this scale of multiple simultaneous renegotiations of global trade agreements is unprecedented – and no country has ever left the EU. It certainly can’t be assumed that Britain is bound to get quick and good deals because it is a large economy.'
Is it a vindication of the economic merits of Brexit and a symbol of the clout of ‘global Britain’? The short answer is no.
Nissan, Honda and Hitachi were the pillars of an Anglo-Japanese accord dating back to the 1980s. That deal is now in ruins.
Trade talks will go ahead despite reported dismay at language used by Liam Fox and Jeremy Hunt.
Lack of clarity about UK-EU trading relationship after Brexit also holding up progress. / Japan is seeking tougher concessions from Britain in trade talks than it secured from the EU.
Negotiator Hiroshi Matsuura says Japan is giving U.K. six weeks to strike a post-Brexit trade deal.
Britain could be pressured into bad deal to replace EU's agreement with East Asian country.
The UK won't be able to roll over an EU trade deal with Japan in time for a no-deal Brexit, Trade Secretary Liam Fox has said.
Prime Minister Fumio Kishida urged his U.K. counterpart Boris Johnson to reach a deal with the European Union on Northern Ireland that doesn’t hurt Japanese companies operating in Europe.
Japan urges UK to avoid no-deal Brexit
27/06/2019
Japan's foreign minister has told the BBC that he has been telling the two prospective Conservative leaders to avoid a no-deal Brexit.
Tokyo and London seek to quickly seal a post-Brexit deal to take effect 2021.
Japan's government has warned that Brexit could result in the country's firms moving their European head offices out of Britain.
The Japanese ambassador to the UK tells Sky News his country is "perplexed" by the UK's departure from the EU. / More Japanese companies may relocate away from the UK in the coming months if Britain does not seal a promising post-Brexit deal, the Japanese ambassador has warned.
Alarm raised after Nissan decision to halt expansion of Sunderland car plant.
Taro Kono said he was particularly worried about the impact on car companies.
Japan's richest man has warned that Brexit is "practically impossible" and could take the United Kingdom back to the economic stagnation of the 1970s when the country was often described as the "sick man of Europe."
Japan's ambassador to Britain has said that Japanese businesses in the UK expect continued access to the European Union market after Brexit. Tsuruoka said Japanese firms based in Britain counted on access to the EU market.
Free Trade Agreement (FTA) and Economic Partnership Agreement (EPA)
Japan-EU EPA won't apply to U.K. under no-deal Brexit; EU expects May to request three-month delay
22/02/2019
Prime Minister Shinzo Abe and his British counterpart, Theresa May, last month agreed to conclude a free trade agreement between their countries, based on the assumption that the U.K. will leave the EU with a deal.
The U.K.’s hopes of a swift trade deal with Japan will ultimately rest on a successful resolution to the main talks between London and the European Union on a new trading arrangement, some experts say.
Norinchukin announces plan day after Shinzō Abe offered public backing for May’s deal.
The number of Japanese companies and their employees in the UK is starting to decline. Given that this is against the trend elsewhere in Europe, it is hard to avoid the conclusion that this is a reaction to Brexit.
The number of UK-based Japanese firms fell by 12 per cent from 1,084 in 2014 to 951 in 2019, with most of the drop occurring during the politically tumultuous period following the Brexit referendum in June 2016.
LONDON — Britain and Japan were unable to announce a new trade deal Friday after two days of intense high-level political negotiations in London.
Japanese government warns that the country's businesses with European headquarters in the UK may decide to transfer... to Continental Europe if EU laws cease to be applicable in the UK.
Jonathan Vernon-Smith talks about manufacturing and brexit job losses with Jason J Hunter and Graham 'George' Gudgin.
Jeremy Hunt's new Brexit lies are playing Bannon's game, and driving British politics into the murky shadows
16/04/2019
The foreign secretary flew at our expense to lie to young students in Japan, in order to appeal to old Tories at home.
Taxes cut on birds’ eggs, raw hides, fur skins and ultra-strong spirits – but UK does not export them anyway.
New Tory MPs have promised to transform the region, but its greatest threat will come in days, when Britain leaves the EU.
Nissan has decided to produce its battery-powered Ariya sport utility vehicle in Japan, rather than in the U.K., the company said Thursday.
Brexit risk dashes Sunderland plant's hopes of producing new model for export.
A no-deal Brexit would cost Japanese carmakers in Britain more than $1bn a year if 10% tariffs were imposed on trade between the UK and EU, new analysis suggests.
Foreign Minister Taro Kono has warned two candidates vying to replace Prime Minister Theresa May that a no-deal Brexit would be so disruptive Japanese capital’s 35-year bet on the U.K. could end.
Open letter from group representing 4m western firms outlines ‘grave concerns’.
DR ROB DAVIDSON, director of Trade Deal Watch, says the UK's government new trade deal with Japan is far from a cause for celebration. It is the first sign of our poorer future following Brexit.
Britain's trade agreement with Japan - the first major such deal announced after Brexit - has been branded a failure as new figures show exports have DROPPED.
The one that was so much better than the EU-Japan deal because the names of 70 British products would now be protected?
Shionogi planning HQ move from UK
11/03/2019
Japanese drugmaker Shionogi will transfer its European headquarters from the UK to the Netherlands as a consequence of the Brexit, according to the Financial Times.
The commercial departments of Brexit-supporting newspapers know the damage being caused to the UK economy, and newspaper advertising revenues, by Brexit. Their editorial colleagues continue to support it anyway.
The Brexit debate takes shape
05/12/2018
... the most hard-core Brexiters cannot articulate a deal that they prefer and has the slightest prospect of winning EU approval. Supporters of Brexit made incredible promises that had no basis in reality. / This matters greatly to Japan. Britain is the gateway to Europe for many Japanese companies. / Failure to reach a deal with the EU, for whatever reason, would be a disaster for the U.K.
The Japanese Memo on Brexit
28/09/2016
Japan recently released a rather extraordinary memo on the Ministry of Foreign Affairs website. It provides clear, frank and specific recommendations to both the UK and the European Union (EU) on the topic of the impending separation of the UK from the EU.
Should the aim be limiting damage or designing a bold future? / Japanese negotiators remain skeptical about the U.K.’s ability to handle multiple FTA negotiations simultaneously / What is evident, however, is that no country wants to conclude a definitive trade deal with the U.K. without knowing the final shape of the EU-U.K. partnership.
Almost every nation at some point believes it’s special and on a mission. They’re all wrong, and the sooner we get over this nonsense, the better.
Respondents cite new procedures and paperwork among negatives of breakup.
Top Japanese official issues ominous warning to Theresa May's Government, saying 'no-deal' Brexit would be 'impossible for us to accept'
21/07/2018
Shinichi Iida, a minister in the London embassy, said Japanese manufacturers are holding off on committing to the UK with new investments due to the uncertainty – and that potential new investors are steering clear of Britain.
A no-deal Brexit will mean the UK trading under World Trade Organisation rules with some countries, including Japan and Turkey.
Trade: First year of the EU-Japan Economic Partnership Agreement shows growth in EU exports - European Commission
31/01/2020
1 February 2020 marks the first anniversary of the entry into force of the EU-Japan Economic Partnership Agreement (EPA). In the first ten months following the implementation of the agreement, EU exports to Japan went up by 6.6% compared to the same period the year before.
Trading the orchard for an apple
03/03/2021
So far, in the first two months of Brexit, the following industries have indicated that they have been harmed: Aerospace; Airlines; Architecture; Art and Antiques; Beer; Bees; Cattle and horse breeding; Charities; Cheese; Chemicals; Cars; Classic Cars; Construction; Cosmetics and Perfume; e-Commerce; Fabrics; Fashion; Ferry services; Film and TV production; Financial Services; ...
Business Secretary Greg Clark said the U.K. isn’t likely to reach agreements with Japan and South Korea to roll over existing trade deals before Britain’s scheduled departure from the European Union on March 29.
Despite hopes for a good free trade deal with Japan, the United Kingdom is unlikely to improve on the recent agreement between Tokyo and Brussels, and could end up worse off, experts say.
Fresh inward investment in the sector plummeted in 2018, down 46.5 per cent on 2017 to just £588.6m.
Even if Brexit deal is reached, decision means vehicles without enough British components will attract tariffs.
Japan this week started offering a digital nomad visa, which will allow Britons to work remotely from the country for nine months without paying local income taxes.
UN figures show value of British goods and services exports rose by 6% between 2012 and 2021, compared with 29.1% for EU.
Government accused of ‘failure and broken promises’, as exports set to slump next year.
Deals to ensure UK can go on trading with non-EU countries after Brexit transition must be laid before parliament by Wednesday.
UK will be told to lift ban on hormone-treated beef to join key trade bloc, leaked memo suggests
08/02/2022
The UK will be told to lift its ban on hormone-treated beef to achieve its post-Brexit dream of joining a key trade bloc, a leaked government memo suggests.
Doubts are growing in Whitehall that a UK-Japan trade deal will be completed by next week’s deadline, despite Downing Street saying just yesterday the target would be met.
We’ve upset Japan, China and Bangladesh this week alone – post-Brexit Britain won’t have any trade links at this rate
22/02/2019
‘Global Britain’ now apparently means making silly gestures and pretending to be more powerful than we are, at enormous cost to our economic well-being.
Especially if you supported Leave. It's a brutal, lengthy, detailed dissection of all the potential economic damage leaving the EU will do to the UK.
£1.5bn GDP boost from UK-Japan trade deal is not on top of existing EU-Japan deal benefits
15/09/2020
These estimated benefits are relative to 2018 when the UK (as part of the EU) had no FTA with Japan.
Ellie Newis reviews two of the flagship free trade agreements that were supposed to reignite the UK economy.
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