Britain says the post-Brexit trade deal signed with Japan on Friday “secures major wins that would be impossible as part of the EU”, though its substance is largely similar to the current EU-Japan accord.

Britain hopes the agreement will boost trade with Japan by around $20 billion when it comes into force in January after being ratified by lawmakers in both countries.

When the deal was announced last month, Britain said it meant around 99 percent of its exports to Japan would be tariff-free.

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