EU/JAPAN - Free Trade Deal Reached

Arno Froese

The European Union and Japan have formally agreed an outline free-trade deal.

The agreement paves the way for trading in goods without tariff barriers between two of the world’s biggest economic areas.

The EU and Japan have done two deals for the price of one: a trade deal and a complementary “Strategic Partnership.” One will create a major free-trading economic bloc, the second will see them cooperate in other areas like combating climate change.

EU-Japan negotiations began in 2012 then stalled. It was Donald Trump’s election, and the inward turn America is taking, that spurred the EU and Japan to overcome their differences. Both want to show domestic audiences they can deliver signature deals that promise new economic opportunities.

They also want to send a clear message internationally that the EU and Japan, highly-developed democracies, remain committed to a liberal, free-trading, rules-based world, and they will seek to shape it even if the US won’t.

It comes hard on the heels of the collapse of a long-awaited trade agreement between Japan, the US and other Pacific ring countries, the Trans-Pacific Partnership (TPP), which was scrapped in January by US President Donald Trump.

-www.bbc.com, 6 July 2017

Arno's commentary

It is of interest that Europe looks ahead and not behind. The countries on this ancient continent have fought innumerable wars with one another, with millions upon millions of casualties. Now it is the most peaceful, prosperous, and secure continent. This paves the way for closer cooperation with other Asian nations.

This development must be viewed from international perspectives, based on Biblical prophecy. From reading chapter 18 of the book of Revelation, we note that the merchandising of the last world empire is the adhesive for the unity, and subsequently the guarantee of peace. In brief, merchandise is king and merchandise is the key to the collapse of the global world economy, which is part of the process of the Great Tribulation.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

Read more from this author

ContactAbout UsPrivacy and Safety