The government has approved an Economic Partnership Agreement (EPA) with the United Kingdom, which is expected to take effect on January 1st. The EPA is similar to the one agreed with the European Union, including the reduction and elimination of product tariffs. The agreement does not set an import quota for 25 items that had a quota in the European EPA. The UK EPA will also apply low tariffs to UK products for any surplus. The transition period for the European EPA tariff rate will end in December.