UK says Japan trade deal means 99% of exports will be tariff-free

Britain said its newly agreed trade deal with Japan, its first after leaving the European Union earlier this year, meant 99% of the country's exports to Japan would be tariff-free. The deal, agreed in principle on Friday, would increase trade with Japan by an estimated 15.2 billion pounds ($19.53 billion) in the long run, Britain's trade department said.

Britain said its newly agreed trade deal with Japan, its first after leaving the European Union earlier this year, meant 99% of the country's exports to Japan would be tariff-free.

The deal, agreed in principle on Friday, would increase trade with Japan by an estimated 15.2 billion pounds ($19.53 billion) in the long run, Britain's trade department said. Digital and data provisions in the agreement went "far beyond" those in the EU's trade deal with Japan, helping British fintech firms operating in the Asian country, it said.