eu and australia sign new trade agreement
The European Union and Australia have signed a comprehensive trade agreement aimed at eliminating most tariffs between the two sides, marking a significant shift in their economic relations in the face of increasing geo-political tensions. The agreement, which comes after eight years of negotiations, is expected to boost EU exports to Australia by up to 33% over the next decade. The deal also includes a mechanism to protect sensitive products and European producers in case of a significant increase in imports from Australia.