Labor defies Coalition threat to block EU trade deal

Summarised from 2 outlets · 3 reports · Updated 16 Oct, 07:39 · Archive

Australia's Labor government is refusing to compromise on a European trade agreement that the Coalition has vowed to block.

Trade Minister Don Farrell said the government would not compromise on a free trade agreement with Europe, raising the prospect it could fail if the Coalition blocks ratification in parliament. The deal, signed in March between Prime Minister Anthony Albanese and European Commission president Ursula von der Leyen, would eliminate tariffs on 98 per cent of Australian exports by value and rise to 98 per cent after seven years.

The Coalition has branded it the 'worst trade deal in history'. Liberal leader Angus Taylor and Nationals leader Matt Canavan have led the opposition, with the Nationals arguing the deal is unfair on farmers. The Coalition's stance represents a shift from the Liberal Party's traditional support for free trade, though Taylor has joined the Nationals in their opposition.

Labor argues the deal is a game-changer for small businesses, exposing them to a €30 trillion market and 450 million new customers. Trade Minister Farrell said it would give Australian businesses cheaper access to European machinery, equipment and technology. Farrell warned that Australia will only get one shot at such an agreement after years of negotiation. The deal is currently in limbo pending parliamentary approval.

How it is being reported

• Labor defends European Union free trade deal as Coalition threatens to block ratificationA deal that could scrap tariffs on 98 per cent of Australian exports and unlock a $30 trillion market has been branded the “worst deal” in history by the Coalition.Perth Now · 16 Oct, 07:12
• Labor defends European Union free trade deal as Coalition threatens to block ratificationA deal that could scrap tariffs on 98 per cent of Australian exports and unlock a $30 trillion market has been branded the “worst deal” in history by the Coalition.The West Australian · 16 Oct, 07:11
• Labor dares Coalition to block European trade agreementTrade Minister Don Farrell said the government would not compromise on a trade agreement signed with Europe, raising the prospect the deal could fail in the face of Coalition opposition.The West Australian · 16 Oct, 01:45

In this story: Australia · European Union · Don Farrell · Anthony Albanese · Angus Taylor · Matt Canavan · Ursula von der Leyen

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem