Australia has criticised the UK's post-Brexit trade plans to split quotas of food imports from around the world.
Currently, EU rules allow for a certain amount of goods to be brought in from countries outside of the Union without charging full tariffs. After Brexit, the UK and EU want to split these quotas, based on where the goods are mostly consumed.
Australian trade minister Steven Ciobo said it would impose unacceptable restrictions on their exports during a BBC Radio 4 Today programme: "The point is that you have a choice about where you place your quota at the moment. Therefore, given that you could put it in the UK or you could put it into continental Europe, why would we accept a proposition that would see a decline in the quota available because of the Brexit decision?"
In essence, if the UK limits the options of countries like Australia, the US, Brazil and Canada as it rejoins the WTO, it's unlikely to receive a warm reception from them when it comes to negotiating individual trade deals – one of the Holy Grails of pro-Brexiteers.
At TradeScope we think this is yet again another example of how we are all going to have to Watch This Space for the new years years as the Brexit negotiations – and machinations – unfold.