UK and Australia Trade Agreement in Final Stages

The broad terms of the trade deal between UK and Australia have been negotiated as both countries are committed to smooth trade relations.

Source: The Guardian.

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The UK farmers raised major issues on the possibility of zero-tariff and zero-quota trade arrangements with Australia.

Cheaper imports from Australia could affect the competitiveness of the UK agricultural produce. Other sticking points in the trade agreement are introduction of cheaper meat with poor welfare standards in the UK market.

The National Farmers’ Union expressed their concerns over the deal affecting British farming and being less beneficial to the UK economy.