The UK and Australia have struck a free trade deal, which has been hailed as a “new dawn” by Boris Johnson.
But, as always, the devil is in the detail.
We don’t know everything that is in the deal – the final agreement in principle is set to be published this week.
This is a summary of what has been revealed so far.
• Britons under the age of 35 will be able to travel and work in Australia more freely, with working holiday visa holders enjoying expanded rights and the ability to stay in Australia for three years
• According to the Australian government, 99% of imports from the country will be able to enter the UK duty free
• Tariffs will be eliminated on Australian favourites like Jacob’s Creek and Hardys wines, swimwear and confectionery, as well as increasing choice for British consumers and saving households up to £34m annually
• Downing Street said the deal will help distillers by scrapping tariffs of up to 5% on Scotch whisky, while car manufacturers in the Midlands and the north of England will see tariffs of up to 5% cut
• Number 10 said more than 450 businesses in Wales exported to Australia last year and stand to benefit, while “life science companies and chemicals manufacturers are set to benefit in particular”
• It said that in Northern Ireland, 90% of all exports to Australia are “machinery and manufacturing goods used extensively in Australia’s mining, quarrying and recycling sectors”, and under the deal tariffs will be removed and customs procedures “simplified”
• Australia’s trade minister, Dan Tehan, said the deal will see “professionals will benefit from provisions to support mutual recognition of qualifications and greater certainty for skilled professionals entering the UK labour market”
Fears have been expressed about the impact the deal could have on British farmers, who fear they may end up being unable to compete with Australian imports.
Downing Street has insisted that the government is “absolutely not compromising our high animal welfare and food safety standards”, but there have been calls for more details.
On farming, we so far know that the deal says:
• British farmers will be protected by a cap on tariff-free imports for 15 years, with other “safeguards” to protect them
• Hormone-fed beef will not be allowed to be sold in British supermarkets
• Australia says that beef tariffs will be eliminated after 10 years, sheep meat tariffs after 10 years, sugar tariffs after eight years and dairy tariffs over five years, with quotas in place during the transition to tariff-free access
• With beef and sheep meat, safeguards will then apply for five years
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