A wheely good deal?

Dubbed the “cars for cheese” deal in Brussels, the new JEFTA removes almost all tariffs on Japanese cars and EU dairy products traded between the parties.

[…] But whilst Tokyo could expect to see a significant windfall in terms of more of its cars on European roads, it is unclear that the EU’s plans are as well thought through.

British Green MEP Molly Scott Cato, who is sceptical about the benefits of the JEFTA deal, pointed to figures showing that lactose intolerance in the East Asia region is calculated at 90-100 per cent of the population.

She questioned how much benefit the bloc could seriously expect to gain from such an agreement as a result, forcing eurocrats to admit that at the moment that cheese makes up just 0.4 per cent of exports to Japan. In contrast, 13 per cent of Japanese exports to Europe are cars


So while there will be more Japanese cars on European roads as a result of JEFTA, it seems that very few wheels of cheese will be rolling in the other direction.  Perhaps it wasn’t such a wheely good deal after all?

When negotiating deals for our primary produce with potential trade partners, let’s hope our next Government’s trade negotiators are a little better advised than the EU team.

This post was written by Intern Staff.



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