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Tokyo and Europe Take a Stand Against Protectionism

Now that Trump Administration has pulled out of the Trans-Pacific Partnership (TPP) and so far failed to move ahead on the Trans-Atlantic Trade and Investment Partnership (TTIP) negotiations, many of America's closest allies are looking for alternatives. This month, Japan (who was to be included in TPP) and the EU (the EU counterpart to TTIP) reached a trade agreement that will cover around 40 percent of global trade – although the deal has yet to be enacted. According to European Commission President Jean-Claude Juncker, this agreement “makes a statement about the future of open and fair trade in today's world. And it shows that closing ourselves off to the world is neither good for business, nor for the global economy, nor for our workers."

The Cipher Brief’s Fritz Lodge spoke with Mireya Solis, Co-Director of the Center for East Asia Policy Studies at the Brookings Institution, to look at the forces that brought the EU and Japan together, and how this deal could impact U.S. trade relations and economic security.

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