Will Soy Sauce Be Cheaper in Britain Due to the UK-Japan Trade Deal?

©iStock/fortyforks

It was Japanese week on The Great British Bake Off and the The Department for International Trade (DIT-UK) has been causing something of a stir on social media, after tweeting about the Bake Off. 

At first they said, "The bakers used a lot of soya sauce in the first challenge on #GBBO, so it's a good thing it will be made cheaper thanks to our trade deal with Japan."

Then the DIT clarified:

"Thanks to the UK-Japan trade deal, soya sauce will be cheaper than it otherwise would be under WTO [World Trade Organization] terms, on which we would be trading with Japan from 1 January if we had not secured the UK-Japan trade deal."

But here's the funny thing:  Most soy sauce in the UK does not come from Japan.

Oh boy.  Read more.

On a more serious note, Britain and Japan sign post-Brexit trade deal.

from The Global Small Business Blog https://ift.tt/34IeKfm