Tokens from Tokyo

Japan, the world’s third biggest economy, has delivered a stark message to both the UK and the EU prior to the commencement of negotiations. Requesting early clarity on the shape of the discussions, the 15-page document goes on to set out some of the clearest Brexit recommendations to date, aimed at safeguarding Japan’s 440,000 jobs and investment in the EU, half of which is based in the UK. The paper deals with trade tariffs (keep the same), regulation (harmonisation), passporting (grandfathering measures), and cross-border movement of capital.  ‘Great turmoil’ is predicted across banking, car manufacturing and pharmaceuticals sectors if single market access is not secured.