Japan, EU to narrow gaps in auto, farm, eye free trade deal in July

Japan and the European Union are in the final phase of negotiations on sealing a broad agreement on a free trade pact early next month, seeking to strike deals on sensitive issues such as market access in agriculture and automobiles.The two sides plan to scrap the 28-member bloc's 10 percent tariff on Japanese automobiles some 10 years after the deal takes effect, sources close to the matter said recently.The bloc also eyes an immediate elimination of tariffs on around 80 percent of auto parts exported from Japan, which are currently at 3 to 4.5 percent, they said.Progress in negotiations o…READ FULL ARTICLE