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Trade

Japan ratifies UK trade deal to take effect Jan. 1

Car companies and train makers to benefit from tariff cuts

The Japan-U.K. economic partnership agreement "ensures continuity for Japanese and British companies," Japanese Foreign Minister Toshimitsu Motegi says. (Nikkei montage)

TOKYO -- Japan's parliament on Friday completed ratification of a free trade deal with the U.K., a key move for supporting Japanese auto companies, railcar makers and other industrial groups through Britain's looming exit from the European Union.

The economic partnership agreement, set to take effect Jan. 1, saves Japanese manufacturers operating in the U.K. from a Brexit "cliff edge" at the end of this month.

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