EU-Australia Trade Deal: Game-Changer for Partnership

0:00On March 24, European Commission President Ursula von der Lien and Australian Prime Minister Anthony Albanese have signed a major free trade agreement after eight years of tough talks. The deal was inked at Parliament House in Australia marking a big step forward in their economic ties. Both sides want to spread out their trade options and cut back on depending too much on China or facing shaky tariffs from the United States. This comes at a time when global trade links are shifting fast. Australia's hailed it as a game-changer for their partnership. Australian farmers and exporters stand the gain from easier access to the European market while Europe gets a steadier flow of key raw materials. On top of trade, they launched a new defense pack for tighter military teamwork and kicked off talks for Australia to join the EU's Horizon Europe. Research program as an associate. The agreement also sets rules like banning Australian producers from labeling their sparkling wine as Perseco after 10 years and it opens up 30,600 metric tons in quotas for Australian

1:03red meat exports to the EU with 55% duty free. As these packs roll out, expect deeper collaboration across trade, security and innovation to reshape their alliance for years ahead. From around the world, powered by AI, this is Global News Today. I'm Corey with The Story.