Trade deals with Australia and New Zealand came into effect on Wednesday, the first to be negotiated since Britain left the EU The Business and Trade Secretary Kemi Badenoch has hailed the deals as an “historic moment” sallyguyoncourt reports
Shoppers may find a more Antipodean flavour to their grocery basket as Tim Tams biscuits, macadamia nuts and Jacob’s Creek wine hit supermarket shelves at lower prices after the Government signed a new trade deal.They mean UK businesses will be able to sell to Australia and New Zealand more easily as all tariffs are removed and access to these markets for services are unlocked.
He said: “There will be a reduction in prices as a result of tariffs coming off. We are likely to see things more biscuits and confectionery like the caramel chocolate bar .However, he said it might take a while for British consumers to develop a taste for these particular products.“Australia and New Zealand will be exporting a lot more wines – Jacob’s Creek is a fairly ubiquitous brand in Australia”, said Mr Bain. “We could see 8-10p coming off both Australian and New Zealand wines.
But meat is likely to be a slightly different story: this part of the market is not tariff-free to start with but on a sliding scale over 15 years.“It’s a way of trying to protect farmers here from immediate competition”, Mr Bain said. “It will be quite a while before you see Australian beef steaks next to British in supermarkets.”
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