Australia and EU sign trade agreement to cut tariffs

Australia and the EU signed a trade deal on Tuesday to cut tariffs on most goods. The agreement aims to boost exports and secure critical mineral supplies.

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Australia and the European Union have officially signed a comprehensive trade agreement, concluding years of negotiations aimed at strengthening economic ties and diversifying export markets. The deal comes at a time of heightened global trade tensions and reflects a strategic effort by Europe to reduce its reliance on specific markets, particularly regarding critical minerals.

European Commission President Ursula von der Leyen at Admiralty House in Sydney, Australia, on March 23, 2026. REUTERS/Hollie Adams
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