Overview
- Prime Minister Anthony Albanese met Ursula von der Leyen and Antonio Costa at the G20 and said he wants the pact finalized in the first quarter of 2026, echoing EU signals that only a few months of work remain.
- EU Trade Commissioner Maroš Šefčovič reported momentum after talks with Trade Minister Don Farrell and expressed optimism about reaching the finish line by spring.
- Market access for Australian beef remains the central unresolved issue, with additional sensitivities around mutton, lamb and sugar requiring leader-level decisions.
- Albanese left the door open to scrapping or lowering the luxury car tax as negotiators consider trade-offs to secure EU agricultural concessions.
- Parallel discussions advanced on joint critical-minerals investment, and the EU is studying Australia’s new social media restrictions as a possible bloc‑wide model.