The australian mining industry is a major driver of exports to the UK. This is one of the reasons the UK is expected to offer Australia a trade deal that will allow both countries to phase out taxes on imports over 15 years.
There was however a split on what terms to propose, amid concerns UK beef and lamb farmers could be undercut because of Australia’s larger producers.
Even though a consensus was reached, the National Farmers’ Union (NFU) has warned that freeing up the UK-Australian meat will lead to hundreds of British cow and sheep breeders going out of business.
Following Brexit, British ministers including International Trade Secretary Liz Truss, are keen to strike as many trade deals as possible ahead of the G7 summit June. Truss is to formally take the UK’s offer to her Australian counterpart before weekend.
Speaking on the subject, UK prime minister Boris Johnson said, “We are certainly looking at doing free trade deals around the world”.
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