UK and Australia sign free trade agreement
These tariffs are set at 35,000 t for beef and 25,000 t for sheepmeat, increasing in regular annual increments over 10 years to reach 110,000 t for beef and 75,000 t for sheepmeat by the Grade 10, the report says.
Any product exceeding this quantity will be subject to UK Most Favored Nation (MFN) tariffs.
Baker said pork, poultry and eggs are not included in the FTA. This means Australian pork exports will be subject to UK MFN tariffs. Australia is a net importer of pork and the UK can still export to Australia duty free, as it currently does.
From year 10 to year 15, there will be product-specific safeguards, which gradually increase imports of duty-free beef to 170,000 t and sheep meat to 125,000 t by year 15, with a duty 20% on all imports above this threshold. quantity, she says.
With regard to animal welfare, a non-regression clause was included for the first time in a UK FTA. The clause ensures that neither party can backtrack on current animal welfare standards in order to reduce the other party’s price.
The agreement will not take effect overnight.
“The complex process that must take place, which will include a three-month public review period, a Trade and Agriculture Commission (TAC) review and then a government and parliamentary process, means there is little likely to be in effect before the second half of 2023,” Baker wrote.