LONDON - The “broad terms” of a trade deal between the United Kingdom (UK) and Australia have been agreed, according to the BBC.

Boris Johnson and Australian Prime Minister Scott Morrison shook hands on the deal over dinner at Downing Street last night.

The agreement, which would be the first trade deal to be negotiated from scratch since the UK left the EU, is expected to be formally announced later today.

It would give UK and Australian food producers and other businesses easier access to each other’s markets.