The United Kingdom and Australia have signed a trade deal. A trade agreement with Australia was a priority for the British; they want to strengthen their business and diplomatic ties in the Indo-Pacific region.
It is the first major trade deal since the Brexit that the British have signed with a country with which they had no agreement as an EU member state.
What exactly agreements have been made is unclear; the details will be announced later. But Australian farmers have already said that they fear that the agreements will cause import duties on British lamb and beef to be removed and they will go bankrupt.
‘Particularly symbolic interest’
The agreement came about following a conversation between British Prime Minister Johnson and his Australian counterpart Morrison. The two met in the margins of the G7 summit in Cornwall and spoke extensively in London yesterday.
The agreement would yield nearly EUR 600 million in the long run. According to critics, the agreement is particularly symbolically important.