The European Union and Japan have agreed terms for a free trade deal liberalizing almost all trade between the bloc and the world's third-largest economy. It is the largest free trade deal struck by the EU, bringing together economies representing approximately 27 per cent of global gross domestic product or about $20 trillion US, making it slightly larger than NAFTA. The final deal was struck the same day the U.K. settled terms of its exit from the EU trade block. Canada has deal with EU, but not JapanCanada already has a free trade deal with the EU, ratified earlier this year, but it has not achieved a free trade arrangement with Japan. The EU is also negotiating a free trade deal with the Mercosur bloc of South America's leading trading nations.

Source: CBC News December 08, 2017 17:26 UTC