Overview
- - The agreement, signed Tuesday in Canberra by Ursula von der Leyen and Anthony Albanese, removes or phases out tariffs on about 98–99% of goods.
- - A separate security partnership deepens cooperation on defense industry projects, cyber security, crisis response and counterterrorism.
- - Europe gains steadier supplies of key raw materials from Australia, including lithium, manganese and aluminum, to reduce reliance on single suppliers.
- - Farm access was tightly capped, with EU quotas of roughly 30,600 tons for beef and about 25,000 tons for sheep and goat meat phased in over years, drawing strong pushback from Australia’s red‑meat sector.
- - Rules on food names were revised, letting some terms stay in Australia while exports face limits, including a 10‑year phase‑out for using “prosecco” on Australian wine sent overseas; the deal still requires approval by EU institutions and Australia’s parliament before it takes effect.