UK Seeking Australia Trade Agreement by June 15, Tariff Cut on Whisky
The United Kingdom's Trade Secretary Liz Truss is seeking the removal of a 5% tariff on whisky exports to Australia in trade agreement negotiations, Truss announced in a June 3 news release. Both sides are seeking a final agreement by…
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mid-month, British High Commissioner to Australia Vicki Treadell told reporters in Canberra, Reuters reported. “We are working hard to have an agreement in principle at the bilateral between Prime Ministers Johnson and Morrison on June 15,” she said. According to the release, Australia is the eighth-biggest market for Scotch whisky, worth around 113 million British pounds in 2020. Truss also said that a trade pact between Australia and the U.K. would be an “important gateway” for accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, of which Australia is a member. The CPTPP bloc recently agreed to begin negotiations on the U.K.'s membership in the group (see 2106020006).