LIVE
Just published.
Human review coming soon.
Human review coming soon.
EU and Australia Sign Trade Deal
The EU and Australia signed a free trade agreement on March 24. The deal took eight years to negotiate.
It will remove tariffs on nearly all trade between them. Both sides agreed to boost defence cooperation and increase rare-earth mineral access.
China currently controls most rare-earth mineral supplies. EU farmers called the deal unacceptable. Some economies are seeking to reduce reliance on US tariffs.
Klear Note — Tariffs are taxes on goods from other countries. Free trade deals remove these taxes, making products cheaper. Rare-earth minerals are used in phones, batteries, and weapons.
Key Terms 4
- EU
- European Union, a group of 27 European countries working together
- tariffs
- taxes a country charges on goods bought from other countries
- rare-earth minerals
- special metals used to make phones, batteries, and military equipment
- defence cooperation
- countries agreeing to work together on military and security matters