UK and Australian Agreement

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    Looks like Australia will be exporting a lot of food to the UK duty free. Which will be good for farming and therefore good for Elders.

    https://www.theguardian.com/australia-news/2021/jun/16/scott-morrison-has-agreed-in-principle-to-a-uk-free-trade-deal-whats-in-it-for-australia
    https://www.abc.net.au/news/2021-06-16/will-the-australia-uk-trade-deal-be-in-australias-interest/100215514


    What does it mean Foe Elders?

    https://www.dfat.gov.au/trade/agreements/negotiations/aukfta/australia-uk-fta-negotiations-agreement-principle

    increasing TRQ volumes on beef over 10 years, with access to a duty-free transitional quota of 35,000 tonnes on entry into force (EIF), rising in equal instalments to 110,000 tonnes in year 10. In the subsequent 5 years (year 11-15 after EIF) a product specific safeguard will be applied on beef imports exceeding a further volume threshold rising in equal instalments to 170,000 tonnes, levying a safeguard duty of 20% for the rest of the calendar year. Out of quota tariffs will remain at MFN until year 10 and then be eliminated

    increasing TRQ volumes on sheepmeat over 10 years, with a duty-free transitional quota of 25,000 tonnes on EIF rising in equal instalments to 75,000 tonnes in year 10. In the subsequent 5 years (year 11-15 after entry into force) a product specific safeguard will be applied on sheepmeat imports exceeding a further volume threshold rising in equal instalments to 125,000 tonnes, levying a safeguard duty of 20% for the rest of the calendar year. Out of quota tariffs will remain at MFN until year 10 and then be eliminated

    tariffs on sugar will be eliminated in equal instalments over 8 years with a duty-free quota of 80,000 tonnes on EIF rising in equal instalments to 220,000 at year 8.

    tariffs on dairy will be eliminated in equal instalments over 5 years. There will be a duty-free transitional quota for cheese of 24,000 tonnes rising in equal instalments to 48,000 tonnes in year 5. There will be a duty-free transitional quota for non-cheese dairy of 20,000 tonnes. There will be a further duty-free transitional quota for butter of 5,500 tonnes rising to 11,500 tonnes in year five

    There will be a permanent duty-free quota of 1,000 tonnes per year for long-grain milled rice,

    with tariff elimination on EIF for short and medium-grain milled rice

    From the UK side
    https://www.gov.uk/government/news/uk-agrees-historic-trade-deal-with-australia

    Last edited by badger192: 18/06/21
 
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