European Union, Japan near trade deal

New York

THE European Union and Japan are close to sealing one of the largest trade agreements ever, a deal that could further isolate the United States as President Donald Trump forges a protectionist path.

The deal, which brings together two giants encompassing a quarter of the world's economy, would be a potent symbol of free trade during a time of populist backlash over globalisation.

The agreement would give both parties better access to core industries such as cars and machinery, while laying down new rules for resolving investment disputes and removing structural barriers to trade, according to a partial draft of the agreement obtained by The New York Times.

The deal, which is expected to be signed in the coming weeks, also reaffirms the two powers' commitment to the Paris climate accord, abandoned by the Tr…