PM spruiks trade offerings, calls for EU deal that ‘benefits us’

Anthony Albanese has spruiked Australia’s “damn fine” products as major trade talks stall on one key issue.

Anthony Albanese has spruiked Australia’s “damn fine” products as trade officials push hard to lock in a deal with the EU.

Canberra and Brussels have signalled a free-trade agreement is on the brink of being inked, with unpredictability from the US instilling a sense of urgency on both sides.

The Prime Minister on Thursday said Trade Minister Don Farrell was in Europe “negotiating in good faith”, but ultimately Australia would only sign a deal that “benefits us”.

Prime Minister Anthony Albanese says his government will only sign an EU trade deal that ‘benefits’ Australia. Picture: NewsWire / Andrew Henshaw

“I think the last time around, there was not a good enough deal for Australia,” Mr Albanese told reporters, referencing collapsed trade talks in late 2023.

“We will seek a deal that is good enough for Australia.

“If it benefits us, we will be in it. If it doesn’t, we will continue to not sign up to something that is not in our national interest.”

He pointed to the UK free-trade agreement, saying it had “led to an increase in meat products as well as wine and other products going into the UK”.

“Why is that the case? Because our products are damn fine and they are in demand right around the world,” Mr Albanese said.

Closing a deal with the EU would give Australian producers uninhibited access to the bloc’s 27 member states – a combined population of half a billion with high disposable incomes.

Key sticking point

Agriculture was the main sticking point in negotiations on the sidelines of a major trade summit in Paris overnight, NewsWire understands.

It is a politically charged issue for many EU countries, with farmers fearing increased competition and regions claiming exclusivity on the names of certain products, such as feta and prosecco.

These so-called geographical indicators were central to derailing previous free trade talks.

NewsWire understands agriculture was presented as a must-have during negotiations.

Senator Farrell, who is spearheading the talks, said a deal would “deliver benefits across every sector of the Australian economy”.

Trade Minister Don Farrell says EU trade talks are ‘a once-in-a-generation opportunity to secure access to the world’s largest single market’. Picture: Jason Edwards / NewsWire

“This is a once-in-a-generation opportunity to secure access to the world’s largest single market and deepen ties with a vital economic partner,” Senator Farrell said.

“A trade agreement with the EU isn’t just about boosting exports, it’s about building economic resilience in a rapidly changing global environment.

“A trade deal with the EU would deliver benefits across every sector of the Australian economy.

“It would drive investment, strengthen supply chains, boost innovation, deepen education ties, lower costs for Australian consumers and business, and create a wealth of export opportunities.

“Both Australia and the EU recognise that now is the time to strengthen our economic partnership, and we’re working through the remaining issues to try and finalise the deal.”

Mr Albanese also met with EU leaders, including Ursula von der Leyen, when he was in Rome last month for Pope Leo XIV’s inauguration.

He raised trade talk with the EU Commission President, who said “Australia and Europe are reliable partners”.

“We are predictable, we share the same values as you just said, so we can offer to each other stability and we’re very grateful for that,” Ms von der Leyen told reporters at the time.

“And this is the reason also that we do not only see you as a trading partner, but we see you as a strategic partner, and we would very much like to broaden this strategic partnership.”

Free trade means more jobs and a stronger economy.

That’s why we’re working towards a free trade agreement with the European Union.

Today I met with EU Commission President @vonderleyen to discuss trade, and our work to support global peace and security. pic.twitter.com/KB4AdV4HAk

— Anthony Albanese (@AlboMP) May 18, 2025

The impetus for getting a deal across the line has been fuelled by Donald Trump’s tariffs.

Australia and the EU, both key US allies, have been included in baseline blanket 10 per cent levies on foreign imports as well the 50 per cent duties on steel and aluminium.

The US President doubled the steel and aluminium imposts on Wednesday, drawing ire from other Western governments.

A Department of Foreign Affairs and Trade spokesperson said DFAT was “engaging with industry and assessing the potential impact of the increased tariffs”.

“We continue to advocate for Australian trade with the US and put forward our strong case to be exempt from these tariffs,” they told NewsWire.

Senator Farrell said the tariffs were “unjustified”.

“Australia’s position has been consistent and clear,” he said.

“These tariffs are unjustified and not the act of a friend.

“They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade.

“We will continue to engage and advocate strongly for the removal of the tariffs.”

Senator Farrell also met with his US counterpart in Paris.