Australia and EU finalize free trade agreement
The new agreement will remove nearly all tariffs on goods traded between Australia and the European Union.
The prime minister of Australia and the president of the European Commission (EC) have announced the finalization of a free trade agreement between Australia and the European Union (EU).
According to the EC release (March 23, 2026), this free trade agreement will remove more than 99% of tariffs on EU goods exports to Australia and lower tariffs on imports of critical raw materials (CRMs). The agreement will also eliminate tariffs on major EU exports such as cheeses, meat preparations, wine and sparkling wine, some fruits and vegetables including preparations, chocolate, and sugar confectionery.
According to an announcement from the Australian Prime Minister’s Office (March 24, 2026), almost all Australian exports of manufactured goods and mineral resources will face zero import tariffs into the EU.
The next steps include the publication of the negotiated texts, followed by domestic procedures, signature, and ratification by both parties before the agreement enters into force.