US EditionEU close to sealing trade deal with Australia
Negotiations focus on duty-free beef quotas, luxury car tax, and critical minerals cooperation to boost bilateral trade worth $110 billion annually, officials said.
- On February 5, 2026, the EU signalled progress toward a trade deal with Australia, expected to boost trade, investment, and expand two-way trade to around $110 billion a year, citing US tariff pressures.
- After talks collapsed in 2023, negotiators resumed discussions focused on agriculture and market access, addressing disputes over beef, lamb, feta, prosecco, and geographic naming rights.
- Duty-Free beef quotas are key, with the EU seeking around 30,000 tonnes and Canberra aiming for 40,000 tonnes, and Dr Wadephul said, 'It is important to have another go, and I think we'll be successful.'
- Trade Minister Farrell will meet EU counterparts next week, and a possible visit from Ursula von der Leyen could occur later this month if talks succeed.
- Strategic supply-chain concerns and US tariff threats are driving talks, as the EU seeks to diversify critical raw materials away from China using Australian deposits, Farrell said.
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EU close to sealing trade deal with Australia
The European Union is close to concluding a long-sought trade agreement with Australia, as US President Donald Trump's tariffs accelerate Europe's push to seal deals with other global partners.
After Mercosur and India, Europe is aiming for a third market via a free trade agreement. The negotiations are in their final stretch: The European Union is close to sealing an agreement.
Australia and EU Eyeing Next Trade Deal, Maybe This Month
Australian Trade Minister Don Farrell will meet with his European counterpart Maros Sefcovic in Brussels next week in a bid to finalise a free-trade agreement between the two groups. Australia is expected to allow more foreign investment and reduce the price of cars made in Europe in a comprehensive agreement that is also likely to lower tariffs for farm exporters. The Australia-EU trade talks are among a flurry of deals that leaders in Europe, …
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