Australia Snubs EU Terms for Free Trade Deal (Macro News for October 28, 2023 – November 3, 2023)

Australian government officials announced the nation rejected the most recent proposal for a free trade deal with the European Union. The two parties have been in negotiations for over five years with Australia's primary goal to boost agricultural exports by eliminating EU tariffs and increasing quotas. The EU region's primary goal was greater access to "critical minerals."

Australia’s Trade Minister Visits China to Lobby for ‘Full’ Restoration of Trade (Macro News for May 13, 2023 – May 19, 2023)

Australian Trade Minister Don Farrell traveled to Beijing to lobby for the removal of trade restrictions impeding trade with China. The trade restrictions were imposed after Australia's previous prime minister called for "an investigation into the origins of Covid-19." China is Australia's largest trading partner, and the current administration would like a reset to pre-Covid trade relations.

This New Union Boss Could Start the Biggest Strike in Decades (Macro News for April 16, 2022 – April 22, 2022)

An unnamed source indicated that the world’s largest independent oil trader, Vitol Group, will cease trading Russian oil by the end of 2022. The Dutch energy firm confirmed it will also not enter into any new transaction agreements involving Russian oil and oil byproducts. Most major oil companies have announced similar actions in an effort to force Russia to end its aggression against Ukraine.

Britain Clinches First Major Trade Deal Since Leaving the EU (Macro News for September 12, 2020 – September 18, 2020)

The United Kingdom Department for International Trade released a statement confirming Britain reached a trade deal with Japan. The deal marks the first trade agreement "with a major economy since leaving the European Union earlier this year." Japan is Britain’s 11th largest trading partner and the agreement is expected to increase trade between the two nations by about £15.2 billion per year (equivalent to $19.5 billion). Under this trade deal, British businesses will not have to pay tariffs on 99% of the goods exported to Japan. Japanese cars imported into the UK will face lower trade barriers retroactive to 2019.