On the eve of a G20 summit with Trump, the leaders of Europe and Japan signed a free trade agreement covering more than 600 million people, 30% of the global economy and 40% of total world trade.

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“The EU-Japan announcement on a trade deal framework — big G20 splash and all — is a stark and sobering challenge to the U.S. geopolitical role,” said Nate Olson, a trade specialist at the Stimson Center think tank in Washington, D.C.

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