Britain’s (Potential) Trade Deal with Australia Explained: Why Johnson Wants TimTams - TLDR News.

The video discusses the ongoing trade negotiations between the UK and Australia following Brexit. It highlights the UK's newfound ability to negotiate its own trade deals and the potential benefits and challenges of a UK-Australia trade agreement. The video also explores the historical trade relations between the two countries, focusing on agricultural trade challenges and the economic impact of such deals. It concludes with a discussion on future trade opportunities and the importance of diversifying trade partners.

What new ability did the UK gain after leaving the EU?

• Increase tariffs on EU goods

• Join the European Union

• Negotiate its own trade deals

• Ban imports from Australia

Which UK regions are most likely to benefit from a trade deal with Australia?

• London and the South East

• West Midlands and North East

• Scotland and Wales

• Northern Ireland and East Anglia

What is the expected GDP growth from a UK-Australia trade deal?

• 0.1 to 0.4%

• 1 to 2%

• 5 to 6%

• 10 to 12%

What is the symbolic importance of a UK-Australia trade deal during the pandemic?

• It shows global cooperation

• It increases tariffs

• It reduces trade barriers with the EU

• It focuses on domestic markets

What historical event reduced Australia's agricultural exports to the UK?

• Formation of the Commonwealth

• World War II

• UK joining the EEC

• Brexit

What percentage of UK imports came from Australia in 2016?

• 5%

• 0.76%

• 20%

• 10%

What is a potential stumbling block in UK-Australia trade negotiations?

• Agriculture

• Textiles

• Technology

• Automobiles

Which trade agreement text is being used to speed up UK-Australia negotiations?

• Trans-Pacific Partnership

• World Trade Organization Agreement

• European Union Customs Union

• North American Free Trade Agreement

What is the UK's largest trading partner?

• European Union

• United States

• Australia

• China

What percentage of small UK businesses already trade with Australia?

• 10%

• 25%

• 50%

• 38%