Australia Australia-UK free trade agreement could boost Australia's economy by $1.3b a year
British, Australian food standard differences causing angst in free trade deal
Differences in food and agriculture standards between the United Kingdom and Australia have emerged as issues for British farmers, as the two nations get closer to a trade deal.British farmers, environmentalists and consumers fear imports from Australia will compromise the UK's high animal welfare and food standards.
Australia and the United Kingdom’s free trade deal could see the Australian economy boosted by $1.3 billion per year.
The agreement could also provide opportunities away from Australia’s unstable relationship with China.
Australian British Chamber of Commerce CEO David McCredie told Sky News it’s been a “terrific week” for Australia.
Video: Australia and UK free trade agreement is 'absolutely good news' (Sky News Australia)
“The announcement of the agreement in principle between Boris Johnson and Scott Morrison has really paved the way for a free trade agreement to be finalised, hopefully signed by the end of the year, ratified early next year and who knows maybe even enforced by the middle of next year,” he said.
“It’s a great opportunity for us to really make a new market.”
Cheers to that! US agrees to lift tariffs on Scotch whisky .
The decision follows the resolution of a long-standing trade dispute between the US and EU.Former US President Donald Trump imposed the 25 percent tariffs in October 2019 as part of the trade dispute over aerospace subsidies. While the United Kingdom no longer is an EU member, it belonged to the bloc when the tariffs were introduced.