European Union and Australia ready to resume negotiations on free trade agreement — Bloomberg

The European Union (EU) is ready to make another attempt to reach a free trade agreement with Australia. The parties have been trying to secure the deal since 2018, but so far they have not been able to find a compromise, according to Bloomberg.

Despite a number of serious disagreements, both the EU and Australia face a common threat—Donald Trump's aggressive import tariffs. This shared concern has brought the issue of a free trade agreement back onto the agenda, the news agency notes.

According to EU Ambassador Gabriele Visentin, joint efforts could protect each side from the negative impact of US duties. However, he emphasizes that the differences identified earlier, mainly concerning the agricultural sector, remain a serious obstacle to the conclusion of the deal.

Speaking in May after winning re-election, Australian Prime Minister Anthony Albanese signaled his willingness to strike a deal with the EU. According to Bloomberg analysts, mounting pressure from the United States may force trading partners to make concessions.