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Trump says has reached 'initial trade agreement' with Japan

U.S. and Japanese national flags are displayed on a street on May 25, 2019 in Tokyo, Japan.
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US President Donald Trump has said his administration has reached an initial trade agreement regarding tariff barriers with Japan.

He said he intends to enter into the agreement in the "coming weeks," according to a White House statement.

UK 'trade continuity' with six African nations

The UK has signed an economic partnership agreement with the Southern African Customs Union and Mozambique (SACU+M), which the government says will allow business to keep trading freely after Brexit.

It allows businesses to continue to trade on preferential terms with South Africa, Botswana, Lesotho, Namibia, Eswatini and Mozambique, to which the UK exports machinery and mechanical appliances worth £409m, some £335m of motor vehicles, and beverages including whisky worth £136m.

Those figures are for 2018.

Liz Truss, international trade secretary, said: "This is a major milestone as the UK prepares to become an independent trading nation once again, and we are helping businesses get ready to trade with the most exciting markets around the world."

The UK imports fruit and nuts worth £547m and motor vehicles worth £409m from these nations, the government said.

China tariff exemptions

workers
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China is planning to exempt 16 types of US products from additional retaliatory tariffs, including whey and fish meal, according to a statement from the Ministry of Finance.

The exemption on US export goods from import tariffs will take effect on 17 September and will be valid for a year.

The move comes ahead of a new round of trade talks scheduled for later this month.