And as a result of this quid pro quo, Aussie farmers could get richer while consumers will be able to pick up cheaper computers, cars and cookers.
This all comes about because after seven long years around the negotiating table, Japan and Australia have agreed a trade deal that will see both countries dropping their import tariffs on prime products.
Talking of prime cuts, Japan is lowering import lower duty on Australian beef. And whey (sorry) more cheese, already Australia’s biggest dairy export to Japan, will be allowed across its borders.
In return, Australia will cut import duty on Japanese electronics, cars and white goods.
Australia’s Prime Minister Tony Abbott, who is visiting Japan, said it was the first time Japan had negotiated this kind of trade agreement with a major economy.
Image credit: Getty
