Failure to ratify the EU trade deal would cost Australia far more than beef
Australia and the European Union agreed on a comprehensive free-trade agreement (FTA) in March, after nearly eight years negotiating and much political rancour.
The agreement abolishes almost all bilateral tariffs, covering 98% of Australian goods exports and broadens our export base at a time of high US tariffs.
Seven months on, the fight has moved to Canberra. Although the government signed the treaty, parliament must pass the laws required to give it effect, such as changing tariff schedules.
Passage through the lower house is certain. In the Senate, however, Labor holds 30 of 76 Senate seats and needs nine extra Senate votes, from a mix of Coalition, Greens, One Nation, and cross-bench senators.
The Coalition is split
With 27 Senate seats, the Coalition’s position matters most, but it is split.
In mid-October Nationals Senate leader Matt Canavan and Nationals frontbencher Bridget McKenzie said the Coalition would oppose the deal, citing insufficient gains in beef, lamb and dairy.
Liberals quickly contradicted them, though some share concerns about the agreement’s commitments on climate and labour rights to meet the International Labour Organization’s rules.
Those concerns are overstated. The Paris Agreement climate? commitments are voluntary and can be revised, while the deal requires no new International Labour Organization ratifications.
If Liberal leader Angus Taylor sides with the Nationals, Labor would need the Greens’ ten senators. However, under new leader David Shoebridge, the Greens may seek to drive harder bargains in legislative negotiations with the........
