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Japan and UK agree on 'substance' of trade deal with aim of Jan 1 start

Both sides look to wrap up negotiations on post-Brexit pact this month

Liz Truss, the U.K.'s secretary of state for international trade, meets with Japanese Foreign Minister Toshimitsu Motegi in London on Aug. 6.  (Photo courtesy of Japan's Ministry of Foreign Affairs)

LONDON -- Japan and the U.K. on Friday agreed on most of the substance of a free trade pact meant to ensure continuity and prevent tariffs as Britain leaves the European Union, with a goal of reaching an agreement in principle by the end of this month.

The consensus was reached as Japanese Foreign Minister Toshimitsu Motegi and U.K. International Trade Secretary Liz Truss met here for two days of in-person negotiations. While most chapters were said to be agreed, neither side disclosed which issues remain unresolved.

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