British Prime Minister Boris Johnson has been told to “be careful watch you wish for” as he was given a stark warning of the torments of trading with the EU on so-called Australian terms by the country’s former leader Malcolm Turnbull.
Turnbull said Australia faced “very large barriers” to trading with the bloc and ending the Brexit transition period on similar terms would be “pretty disappointing”.
His warning on Thursday came after the Johnson said there was a “strong possibility” the UK would fail to broker a trade deal with Brussels.
Johnson used his euphemism of exiting with an “Australian relationship”, with the nation not having a free trade deal with the EU and instead trading on terms set by the World Trade Organisation (WTO).
Turnbull told BBC Question Time: “It’ll be pretty disappointing, I think you’ll find out.
“We obviously are dealing with WTO terms. And there are really some very large barriers to Australian trade with Europe which we’re seeking to address as we negotiate a free trade agreement with Europe
“But Australians would not regard our trade relationship with Europe as being a satisfactory one.
“There are very big barriers to Australian exports of agricultural products in particular, there’s a lot of friction in the system in terms of services, there’s a lot to aim for.
“So, you know, be careful what you wish for. Australia’s relationship with the EU is not one from a trade point of view that I think Britain would want, frankly.”