The summary of what interviewees said about tariffs can be found in the public consultation on trade negotiations with Australia: summary of the responses. Australia has relatively low tariffs on all products and has reduced them further under bilateral and regional trade agreements. In the services sector, Australia has consistently committed to liberalizing its free trade agreements more than it is within its World Trade Organization (WTO) commitments. As a result, British exporters face greater trade barriers in the Australian market than exporters based in those countries. In terms of investment, Australia has included investments in free trade agreements, such as those with the United States, South Korea, Japan and China. This means that British companies wishing to invest in the Australian market could be asked to meet stricter conditions than investors in countries that have free trade agreements with Australia. Another modeling method is partial equilibrium (PE) modeling. This allows for more detailed, sub-sector-focused analyses, and more complex or tariff structures – it is often used to study the impact on certain agricultural raw materials and other specific industrial products. However, it does not take into account the broader economic impact and potential consequences of trade policy changes.
As a result, the results of PE modelling are often seen as the effects of the first cycle when comparing the two approaches, while the effects of the EMB are related to longer-term economic effects, which cover the broader feedback effects across the economy (for example. B the redistribution of resources between sectors). Interviewees in the press sector called for no unjustified restrictions on the cross-border circulation of British newspapers, in print and online newspapers, or in subscription and advertising supplements for news brands. Reactions from the gaming sector have been positive and have emphasized the need to maintain the smooth running of trade and to remove barriers with trading partners. Free trade agreements provide a mechanism to facilitate trade in goods. Each agreement contains information and links to legislation, guidelines and opinions on rules of origin and access to preferential rates. The magnitude of potential tariff savings for companies exporting to Australia is calculated from ITC-TradeMap trade data for 2017-18 in the 8-digit product classification (HS2017). [Note 162] TradeMap data is aggregated in the UN Broad Economic Categories via the UN conversion table.