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Hello and welcome to Coffee House Shots, the Spectator's Daily Politics Podcast.

I'm Isabel Hardman and I'm joined by Fraser Nelson and James Forsyth.

Well, Boris Johnson and Australian Prime Minister Scott Morrison have agreed a trade deal.

James, tell us about the details of what has proved to be quite a controversial debate.

Well, we don't have that many details, to be honest.

It's an agreement in principle.

We know that for 15 years, there will be tariff rate quotas on Australian meat coming into the UK. So in other words,

you couldn't flood the market with cheap Australian meat, kind of crowding out British France.

I personally know this trade deal is an odd one because I think both its proponents and its critics

exaggerate its important. Meat prices in Asia are roughly twice what they are in the UK.

I think that is where Australian farmers are going to continue

to concentrate their export energies.

I don't think this is going to have a dramatic effect on UK farmers.

I think it will obviously make Scottish whisky cheaper in Australia, Australian

and wine cheaper here. And you know, it is at the margins. It is a good thing. I think it's

more significant in that it will help pave the way for UK membership of CPTPP.

One of those things is almost impossible to pronounce.

And what does that stand for?

The comprehensive and progressive trans-Pacific partnership.

A trade deal of agreement of 12 countries.

I think this has two particular bits of importance to the UK.

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