Boris Johnson wants UK to brace for ‘Australia option’, former Australian prime minister says ‘be careful what you wish for’

BORIS JOHNSON has been told to “be careful what you wish for” as the nation’s former prime minister gave him a stern warning about the torments of trade with the EU on so-called Australian terms.

Malcolm Turnbull said Australia faces “very high barriers” to trading with the bloc and that ending the Brexit transition period on similar terms will be “quite disappointing.”

Turnbull’s warning came yesterday after Johnson said there is a “great possibility” that the UK will not be able to negotiate a trade deal with Brussels.

EU Commission President Ursula von der Leyen told EU leaders this morning that there were now “low expectations” that a post-Brexit trade deal could be reached.

An EU official said leaders heard the “probability of a no-deal is greater than a deal” in a brief Brexit discussion at a Brussels marathon summit as time runs out until Sunday’s deadline. to make a call to prolong the talks above

On the possibility of not reaching an agreement, Johnson used his euphemism of dating an “Australian relationship”, since the nation does not have a free trade agreement with the EU and instead trades on the terms established by the World Trade Organization (WTO).

Turnbull, who was Prime Minister of the Liberal Party until 2018, told BBC Question Time: “It will be quite disappointing, I think you will find out.

Obviously, we are dealing with WTO terms. And there are really some very big barriers to Australia’s trade with Europe that we are trying to address as we negotiate a free trade agreement with Europe.

“But Australians would not see our business relationship with Europe as satisfactory.

“There are very big barriers to Australian exports of agricultural products in particular, there is a lot of friction in the system in terms of services, there is a lot to aspire to.

“So, you know, be careful what you wish for. Australia’s relationship with the EU is not one from a commercial point of view that I think Britain would want, frankly, “added former academic Rhodes.

“Be careful what you wish for. Australia’s relationship with the EU is not one, from a commercial point of view, that Britain would like.”

Former Australian Prime Minister @TurnbullMalcolm warns the UK not to rely on WTO rules to do business with Europe. #bbcqt pic.twitter.com/u3OiLJ7SH8

– BBC Question Time (@bbcquestiontime) December 10, 2020

Johnson had previously told his cabinet to “go ahead and make those preparations” for an exit without a trade deal, though he said negotiators would “go the extra mile” to get a treaty in time for the end of the transition period. on December 31.

“I think we have to be very, very clear, now there is a great possibility, a great possibility, that we have a solution that is much more like an Australian relationship with the EU than a Canadian relationship with the EU.” he said in an interview.

Johnson insists the UK can “thrive mightily” without a deal, but the financial watchdog at the Office of Budget Responsibility has suggested that a no-deal result could wipe out 2% of gross domestic product, a measure the size of the economy, in 2021.

Experts have indicated that it could be around 45,000 million pounds sterling.

WTO rules will mean that UK companies will face tariffs on many goods traded with the EU and the addition of some restrictions on quotas and customs controls.

Australia trades 11% of its goods with the bloc. That figure stands at more than 50% for the UK.

While it does not have a full free trade agreement with Brussels, Australia does have a number of mini agreements on trade and other areas, including the peaceful use of nuclear energy and scientific cooperation.

– With report by © – AFP 2020