The deal is the first Britain has negotiated without building on an already existing agreement since leaving the European Union,
British Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison announced Tuesday the outlines of a free trade agreement between the two countries, which the U.K. hopes will boost the potential for more Asia-Pacific trade agreements. The deal is the first Britain has negotiated without building on an already existing agreement since leaving the European Union, and it aims to cut a wide range of tariffs to increase exports from Britain and imports from Australia. « This is an ambitious free trade agreement, » Morrison told reporters. « This is not a standard cookie-cutter agreement. This is an agreement with great ambition for both countries. » Britain hopes the trade deal will allow it to join the Trans-Pacific Partnership. The agreement’s full details will be released later on Tuesday.
