Klarnachrichten
Search

EU and Australia Make a Trade Deal

154

The EU and Australia work closer together. They made an important deal. People call this a free trade agreement.

Both sides talked for 8 years. Now the contract is ready. The meeting was in the city Canberra. Ursula von der Leyen was there.

Because of the deal, almost all tariffs go away. Companies save much money. This money is over 1 billion Euros each year.

Europe needs important raw materials from Australia. This includes Lithium. It also includes rare earths. People need them for batteries and electric cars.

China supplies many raw materials right now. The EU does not want to depend on China. The new deal makes Europe safer.

Australia can sell more meat to Europe. This was a problem in the talks for a long time. Now there are clear rules for this.

Both sides must check the deal first. This takes some months. Then the parliaments must sign the contract.

This text was generated automatically and has not been reviewed for accuracy. No guarantee is given for the correctness of the content. Learn more Learn more about article generation

Definitions

Free Trade Agreement
This is a contract between countries. They agree that trade with goods becomes easier. Usually companies do not pay tariffs anymore.
Tariff
A tariff is a tax on goods. You pay it when goods cross a border. Without tariffs, products get cheaper for customers.
Lithium
Lithium is a valuable substance from the earth. People need it to build batteries. These batteries are in phones or electric cars, for example.
Rare Earths
These are special metals. People find them in only a few places worldwide. People need them for modern technology like computers or wind turbines.

People

Ursula von der Leyen
She is the leader of the European Commission. She represents the interests of the European Union in important contracts.
Anthony Albanese
He is the head of government in Australia. He leads the talks for his country.

Locations

Canberra
Canberra is the capital city of Australia. The government and the parliament sit there.
Australia
A large state and continent on the other side of the world. The country has many important mineral deposits.
European Union
The European Union is a group of 27 countries in Europe. They work closely together in politics and business.

Sources

Südtirol News

EU und Australien schließen Handelsabkommen

Read now
Logo Die Zeit
Die Zeit

EU: EU und Australien einigen sich auf Freihandelsabkommen

Read now
Logo ZDFheute
ZDFheute

Zölle fallen, Handel wird erleichtert: EU und Australien einigen sich auf Freihandelsabkommen

Read now
Logo The Guardian
The Guardian

Australia politics live: Albanese says Australia and EU have signed historic free-trade deal after eight years of negotiations

Read now