In this policy brief published by Global Governance Program's EU-Asia Project, Michael Plummer discusses the implications of the recently signed RCEP on Japan and Europe. Plummer finds that the RECP and the CPTPP (another large trade agreement in the region) will increase global incomes sufficiently to compensate almost completely for the ongoing U.S.-China trade war. According to Plummer, these policies will have a significant positive impact on Japan and a marginally positive impact on Europe.