UK AUSTRALIA FREE TRADE DEAL OFFERS WOOL TRADERS CHANCE TO EXPAND YARN CHOICES FOR TEXTILE MANUFACTURERS
September 22nd, 2023
The wool and textile sectors of Australia and the UK will be closely assessing the impact of the UK-Australia Free Trade Agreement (FTA), which came into force on May 31 (1). The agreement, one of the first major trade deals stuck by the UK following its Brexit from the European Union (EU) in 2020, includes a significant reduction and removal of tariffs in trade between the two. Crucially, that includes UK duties on Australian wool, and wool-based products, such as 2% on carded wool, 4% on combed wool and 8% on woven woollen fabrics (2). Australia has promised to ...
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