Britain announced its first big post-Brexit trade deal today, Reuters reports, reaching an agreement with Japan that will mean that 99% of British exports to Japan will be tariff-free.
British Trade Minister Liz Truss said it was "a historic moment for the UK and Japan as our first major post-Brexit trade deal. The agreement we have negotiated - in record time and in challenging circumstances - goes far beyond the existing EU deal, as it secures new wins for British businesses in our great manufacturing, food and drink, and tech industries."
Despite the hype, the deal is estimated to increase trade by just £15 billion per year, whereas the total trade between Britain and the European Union amounted to £700 billion in 2018.