Today (June 15), prime minster Boris Johnson announced the UK had secured a trade deal with Australia eliminating tariffs on all UK goods, the first trade deal negotiated from scratch by the Government since Brexit.
British farmers will be protected by a cap on tariff-free imports for 15 years, using tariff rate quotas and other safeguards. The Government planned to support agricultural producers to increase their exports overseas, including to new markets in the Indo-Pacific.
Secretary of state for international trade Liz Truss said: “This deal delivers for Britain and shows what we can achieve as a sovereign trading nation. It is a fundamentally liberalising agreement that removes tariffs on all British goods, opens new opportunities for our services providers and tech firms, and makes it easier for our people to travel and work together.
“The agreement paves the way for us to join the Trans-Pacific Partnership, a £9tr free trade area home to some of the biggest consumer markets of the present and future. Membership will create unheralded opportunities for our farmers, makers, innovators and investors to do business in the future of engine room of the global economy.”
British Frozen Food Federation chief executive Richard Harrow said there was an obvious concern about the possibility of an influx of cheap meat produced to a lower standard, but heralded the possibilities afforded to British producers.
“If the UK has more open access to the Australian market, there may well be opportunities for our frozen prepared food producers to supply the country’s retailers with a range of products, especially in categories where Australian producers don’t have the advanced manufacturing capacity to produce them,” he added.