Great news for Australia as they continue to diversify their foreign markets and reduce dependancy on China. https://www.reuters.com/world/asia-pacific/australia-says-trade-deal-with-britain-agreed-2021-06-15/
When the not so Great (anymore) Britain starts buying up all our iron ore and other mining commodities and takes over from China as a manufacturer of all our cheap import products then it might matter...... until then it's largely irrelative.
Interestingly AU will benefit 1.3B from this deal... Currently AU-GB trade is 730M.... Only double!? SCOmo... You're the MAN of this LIFETIME-DEAL!
Will wait on details but I do wonder why Britain has all restrictions removed but Australia will still have some in place.
Major issue here is UK shipped all their manufacturing offshore with the Euro agreement. So not sure what we buy from them other than whisky. Although they might be able to buy more resources from us.
How many bottles of ' Glenallachie 10 year old " cask strength 2021 Single Malt of the year award . Did you buy ?
This is fantastic news. "British-made cars and Scotch whisky will become cheaper and Australian farmers will get more of their products on UK store shelves" “The UK will liberalise Australian imports with 99 per cent of Australian goods, including Australian wine and short and medium grain milled rice, entering the UK duty free when the agreement enters into force.” But import tariffs on Australian beef and lamb will only be fully phased out over 15 years following the urgings of UK farmers concerned about being crushed by cheaper produce from Australia. Johnson said people in the UK could look forward to paying less for “Australian favourites like Jacob’s Creek and Hardys wines, swimwear and confectionery”. Australia will remove its tariffs of up to five per cent on cars manufactured in England and Scotch whisky." https://inqld.com.au/politics/2021/...well-all-be-driving-jags-and-drinking-scotch/ In all seriousness though I do believe the real prize will be in the services as noted in the Reuters article: "The bigger economic prize could be the precedent the deal sets for freer access in trade that allows Britain's services sector to export financial, legal and other professional services."