In this Tuesday, July 31, 2018, photo, Britain's Secretary of State for International Trade Liam Fox, left, shakes hands with Japanese Minister of Economic Revitalization Toshimitsu Motegi during their meeting in Tokyo. Fox said Wednesday, Aug. 1, 2018, the United Kingdom wants to align itself with Asia’s growing economies as it prepares to leave the European Union. Fox said that he welcomed the support he received from Japanese leaders for Britain’s aspirations to join an 11-country Pacific trade agreement. He is on the last day of a three-day trip to Japan after visiting the United States. (AP Photo/Eugene Hoshiko)

Britain looks to growing Asian markets in post-Brexit era

August 01, 2018 - 2:59 am

TOKYO (AP) — British Trade Secretary Liam Fox says the United Kingdom wants to align itself with Asia's growing economies as it prepares to leave the European Union.

Fox said in Tokyo on Wednesday that he got as much support as he could have hoped for from Japan for Britain's aspirations to join an 11-country Pacific trade agreement. He is wrapping up a three-day trip to Japan after visiting the United States.

The U.K. is trying to launch negotiations on new trade agreements with Asia, the United States, Australia and New Zealand for the post-Brexit era.

Fox told The Associated Press that Britain understands the Trump administration's frustrations on trade but favors multilateral solutions. He warned that imposing higher tariffs can only result in countermeasures, higher costs and potential inflation and job losses.

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