The multilateral trading system within the framework of the World Trade Organization (WTO) is of paramount importance for Japan`s trade policy. Although the core of its trade policy is still the same today, Japan has been forced to reconsider and modify it in response to the Trump administration`s aggressive and unilateral trade policies. The parties to the agreement have agreed to set a minimum threshold for public tenders, provided that these rules apply. As a result, there are two categories of tenders, those that fall under the WTO-GPA regime and those that do not. In practice in Japan, this means that WTO tender notices are accompanied by a summary in English and others are not, and in the case of contractual matters, non-WTO tenders offer less protection against abusive treatment and remedies. In 2018, the EU recorded a surplus of 13 billion. EUR in trade in services with Japan. Traditional trade relations between the EU and Japan were once characterised by large trade surpluses in favour of Japan. The EU has negotiated an Economic Partnership Agreement with Japan. Six important agreements have been concluded to date between the EU and Japan. After the U.S.
withdrawal from the TPP, Japan also stepped up its efforts to conclude the Japan-European Union (EU) Economic Partnership Agreement (JEEPA). On July 17, 2018, Japan and the EU signed JEEPA, which entered into force on February 1, 2019. JEEPA is expected to increase Japan`s real GDP by around 0.99% and facilitate wider cooperation between Japan and the EU. Japan is also participating in the negotiations on the Regional Comprehensive Economic Partnership (RCEP), which took place on the 20th. It was launched in November 2012 between Japan, China, Korea, Australia, New Zealand, India and ASEAN countries. Although its liberalization commitments and rules are less ambitious than those of the TPP or JEEPA, RCEP, if completed, would cover about half of the world`s population and about 30% of world trade. However, the future of RCEP became precarious after India announced its intention to withdraw from the agreement after a meeting in November 2019. .