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Australia’s trade minister Dan Tehan had hoped to travel to the UK to conclude negotiations for a free trade agreement (FTA).
However, he left the UK with no deal after both sides failed to come to terms in a number of areas. Observers at the talks were also surprised when Tehan stated that he wants “free flowing” open immigration between the two nations for those aged under 35:
The two sides reached an “agreement in principle” in June, but have spent months wrangling over the legal text. Converting a 16-page draft agreement into a fully scrubbed tome both sides can sign up to has turned out to be more of a challenge than was hoped.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.