EU chief hails 'new epoch' after agreeing sweeping new trade pact with Australia

European Union chief Ursula von der Leyen hailed Tuesday a "new epoch" in relationship after EU and Australia struck a long-awaited free trade deal, compromising to boost exports in the face of global uncertainty over trade.

"Pain at the pump is hard for the citizens, and just another reminder that building the resilience is today's job," she said, addressing the renewed energy vulnerability sparked by the war in the Middle East. "What they signed will unleash a new era of economic and security partnership."