EU and Australia sign major trade deal after eight years of talks

The European Union and Australia have finalized a free-trade agreement, concluding negotiations that lasted eight years. The deal will lower or eliminate tariffs on a wide range of goods, making European products like champagne cheaper in Australia and giving Australian farmers better access to the EU market for products like beef, lamb, and sugar.

Some Australian farmers are upset with the agreement, arguing it does not go far enough in opening the EU market for their goods. The deal is also seen as a strategic move by both sides to reduce economic reliance on China, particularly for critical minerals.