BRUSSELS (AP) — The leaders of the European Union and Japan are lauding their agreement in principle on free trade between the economic juggernauts as the best antidote against the protectionism seen to be promoted by the United States.

The leaders said in a statement that the EU and Japan "demonstrate to the world - and to our citizens - that free trade, with clear and transparent rules fully respecting and enhancing our values, remains an important tool to promote prosperity."

Countering calls for protectionism, EU Council President Donald Tusk said that the political agreement reached Wednesday proves that "the world doesn't need to go back 100 years back in time," when open trade was not as prevalent.

Japan's Prime Minister Shinzo Abe said that "It sends a strong message to the world."