The EU and Australia reached a free trade agreement and said they would deepen cooperation on critical minerals and defense, as both look to diversify trade away from the US and band together against a rising China.
While the trade deal had been in negotiations for years, held up by domestic opposition, Washington’s tariff campaign created a new impetus. Brussels has struck deals with India, Indonesia, and Mexico to shore up access to key commodities, while an EU agreement with Mercosur, South America’s largest trading bloc, will come into force from May.
“We are sending a strong signal to the rest of the world that friendship and cooperation is what matters most in times of turbulence,” the head of the European Commission said.
