Europe, Australia Agree to Trade Deal to Boost Ties, Defy US

WATCH: European Commission President Ursula von der Leyen and Australian Prime Minister Anthony Albanese announced the deal in Canberra. Oliver Crook reports.Source: Bloomberg

The European Union and Australia agreed to a free-trade deal, wrapping up almost a decade of talks as the two sides push to tighten ties and reinvigorate a rules-based order that’s under assault from the Trump administration.

The conclusion of negotiations for the agreement was announced Tuesday in Canberra by Prime Minister Anthony Albanese and Ursula von der Leyen, the EU’s top executive. Once the text is adopted by the European Council it will need to be signed by both sides and then ratified by their respective parliaments to enter into force, according to a statement from the European Commission.