Amid rising U.S. trade pressure and protectionism, Japan and the European Union have struck a landmark trade agreement. The EU-Japan economic partnership, signed July 17 in Tokyo, will gradually remove protections on 99 percent of Japanese goods exported to the European Union and on 94 percent of EU exports to Japan. Under the deal's terms, the European Union will also zero out its 10 percent tariffs on Japanese automobiles over the next seven years. Japan, in turn, will immediately lift its 15 percent tariff on European wine and dramatically lower barriers to imports of beef, pork and cheese from the bloc. The trade deal reflects the redoubled efforts of both parties to forge partnerships that will help soften the blow of U.S. protectionism -- and maybe encourage Washington to return to multilateral trade discussions....
