UK's Frost says ready for 'Australia-terms' FTA if EU still has doubts
BRUSSELS (Reuters) - Britain’s negotiator with the European Union said on Monday that London was prepared to accept an “Australia-style” free trade agreement with the bloc if its member states continue to have doubts about the terms of a no-quotas, no-tariffs deal.
The EU does not have a free trade agreement with Australia, and so such an arrangement would effectively be a trade relationship governed by World Trade Organization rules.