US EditionAustralia-EU Sign Landmark Free Trade Deal After Years of Negotiations
- On Tuesday, Prime Minister Anthony Albanese and European Commission President Ursula von der Leyen signed a free trade agreement at Parliament House in Canberra, removing about 98% of tariffs between the two economies.
- Negotiations began in 2018 but stalled in 2023 over beef quotas and geographical naming disputes; both sides accelerated talks to mitigate global trade uncertainty and reduce reliance on China amid U.S. tariff pressure.
- The pact opens a 30,600-tonne beef quota with 55% duty-free access, raises the luxury car tax threshold to A$120,000 for electric vehicles, and requires Australian producers to phase out prosecco labels over 10 years.
- Agricultural groups criticized the deal immediately, with National Farmers' Federation President Hamish McIntyre calling it a 'dud' that fails to provide commercially meaningful access for red meat exporters.
- Alongside the trade accord, leaders announced a security and defense partnership focusing on cyber security and critical minerals cooperation, with Australia set to join the Horizon Europe research program next year.
263 Articles
263 Articles
The EU-Australia defence and trade deal: G'day Brussels
The EU’s new deals with Australia are really about minerals, missiles, and the retreat of American reliability. In September 2021, France recalled its ambassadors from Washington and Canberra after Australia cancelled a 56 billion euros submarine contract in favour of a nuclear deal with the United States and Britain under the AUKUS pact. Jean-Yves Le Drian, then France’s foreign minister, called it a stab in the back. The recriminations lasted …
Australia, EU agree new trade pact
The European Union and Australia struck a long-awaited free-trade deal on Tuesday, while also agreeing to boost defence cooperation and access to crucial rare-earth minerals in the face of global uncertainty over trade. EU chief Ursula von der Leyen's visit to Australia comes as the 27-nation bloc and the import-reliant nation navigate renewed energy vulnerability sparked by the US-Israel war on Iran. The accord is the latest agreed by Brussels …
Frankfurter Rundschau [Newsroom]Frankfurt (ots) - The EU trade agreement with Australia is another step of the old continent in the right direction. Europe is thus not only improving after the agreements with four South American states of the Mercosur-Bund and ... Read more here...Original content of: Frankfurter Rundschau, transmitted by news aktuell
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