The UK has signed a free trade deal with Australia which it says will benefit consumers and businesses.
It is described as the first post-Brexit deal negotiated from scratch and not “rolled over” from trade terms that the UK enjoyed while in the EU. The government estimated it would unlock £10.4bn of additional trade while ending tariffs on all UK exports.
However, some UK farmers have expressed concern that they could be undercut by cheap imports.
Read the full article on the BBC website
NAM Implications:
- Every little helps…
- Meanwhile, the following could come back to bite International Trade Secretary in the future:
- ‘the deal had “very clear safeguards”
- “clear tariff quotas in the first 10 years”
- “an overarching safeguard mechanism”
