Parliamentarians warn Swiss firms may lose out over Japan-EU trade deal

The wide-ranging free trade deal signed between Japan and the European Union on Tuesday is likely to put pressure on Swiss industrial companies and farmers which export to the Asian country, a Switzerland-Japan parliamentary group has declared.  On Tuesday, Japan and the EU concluded an ambitious free trade deal which creates the world's largest open economic area. The pact removes EU tariffs of 10% on Japanese cars and 3% on most car parts. It will also end Japanese duties of 30% or more on EU cheese and 15% on wines, and secure access to large public tenders in Japan. Europe's food sector is likely to be one of the biggest beneficiaries from the deal, which should allow it to build on Japanese demand for cheese, chocolates, meats and pasta.  In a statement on Tuesday, the Switzerland-Japan parliamentary group warned of the economic advantage that European competitors would be gaining from lower customs tariffs from 2019 onwards. Swiss parliamentarians are concerned that in the ...