Customs Tariff Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Expansion) 2024

# Customs Tariff Amendment (CPTPP Expansion) Bill 2024 ## What it does This bill updates Australian import tax rules to match a trade deal that lets the UK join the Trans-Pacific Partnership — a major regional trade agreement between 12 countries. The changes adjust how tariffs (import taxes) are phased in over time for goods coming from these countries. ## Why it matters Lower tariffs on imports can mean cheaper goods for Australian consumers and better access to overseas markets for Australian exporters. However, it could also affect local manufacturers who compete with cheaper imports. ## Key details - **Triggers on a condition**: The tariff changes only kick in once the UK's accession to the trade agreement formally takes effect in Australia — the government will announce when that happens - **Extended phase-in periods**: The bill stretches out tariff reduction timelines by adding extra years (years 6-9) to the schedule, meaning some duties will be cut more gradually than originally planned - **Applies to trade partner goods**: The changes affect import duties on products from the 12 countries in this expanded partnership

🔒 Voting closed — this bill has been decided by parliament