Australia–United States Free Trade Agreement

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More than 99 percent of U. Manufactured goods account for 93 percent of U. This comprehensive FTA between Australia and the United States strengthens our close ties and offers new potential by expanding opportunities for the workers, businesses, consumers and farmers of both countries," said Zoellick, who visited Canberra in November to announce the negotiations. Negotiations began in Marchand President George W. It is a 21st Century, state-of-the-art agreement that reflects the modern globalized economy, opening markets and streamlining mutual access in intellectual property, services, government procurement, ecommerce, and investment.

Australia is a major trade and investment partner of the United States, and in was America's 13th largest export market for goods, and the 9th largest if the European Union countries are considered as one destination. Australia purchases more goods from the United States than from any other country, and the U. Australia is a key export market for important U.

Each of the fifty U. This is the most significant immediate reduction of industrial tariffs ever achieved in a U. There will be significant benefits for such key U. New Opportunities for Free trade account australia usa. Key agricultural products that will benefit from free trade account australia usa tariff elimination include processed foods, soups and bakery products, fruits and vegetables, dried onions, free trade account australia usa and vegetable juices, dried plums, potatoes, almonds, tomatoes, cherries, raisins, olives, fresh grapes, sweet corn, frozen strawberries, and walnuts.

Food inspection procedures that have posed barriers in the past will be addressed, benefiting sectors such as pork, citrus, apples and stone fruit. Sensitive to Agricultural Concerns: The quota increases will take effect when U.

Safeguards will be available, including a price-based safeguard after the transition period. There will be no change in the U. MFN above-quota tariff on dairy products subject to quotas, and initial increases in imports from Australia under the TRQ quota free trade account australia usa amount to about 0.

Access to Services and Investment: In broadcasting and audiovisual services, the FTA contains important and unprecedented provisions to improve market access for U. Recognizing the Importance of Innovative Pharmaceuticals: In implementing these principles, Australia will make a number of improvements in its Pharmaceuticals Benefits Scheme PBS procedures that will enhance transparency and accountability in the operation of the PBS, including establishment of an independent process to review determinations of product listings.

In addition, the U. Food and Drug Administration and the Australia Therapeutic Goods Administration will work together to make innovative medical products available more quickly. Open and Fair Government Procurement: These commitments are particularly significant and commercially important, because Australia is one of the only developed countries that is not a party to the WTO Agreement on Government Procurement.

Both free trade account australia usa are also committed to extending coverage of the agreement to sub-central entities, and will be working with their respective states to refine the extent of that coverage in the next few weeks. Australia will eliminate its central government industry development programs, under which suppliers have had to provide various types of offsets as a condition of their contracts.

A Trade Agreement for the Digital Age: The agreement calls for each government to adopt state-of-the-art protection for digital products such as software, music, text, and free trade account australia usa, and encourages adoption of measures to promote trade through electronic commerce.

Strong Protections for Worker Rights and the Environment: Ensures effective enforcement of labor and environmental laws and establishes labor and environmental cooperative mechanisms. Transparency in customs operations will aid express delivery shipments and will require open and public processes for customs rulings and administration.

Skip to main content. Bilateral Investment Treaties Other Initiatives. Advisory Committee Reports on U. Free Trade Agreements Australia. The text of the agreement will be made public in the near future. Summary of the Agreement:

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Manufactured goods currently account for 93 percent of total U. Initial increased imports from Australia under the TRQ quota will amount to about 0. The quota increases will take effect when U. After the transition period, a price-based safeguard will be available, designed to be sensitive to market disruptions for high-quality beef.

There will be no change in the U. MFN above-quota tariff on dairy products subject to quotas. Increases in imports from Australia under the FTA tariff rate quotas will amount to about 0.

The Parties state a shared commitment to: In addition, the U. Food and Drug Administration and the Australia Therapeutic Goods Administration will work together to make innovative medical products available more quickly.

Australian firms in the U. Australia also confirms aspects of its regulatory approach that guarantee expedited introduction of insurance products. All forms of investment are protected under the Agreement, including enterprises, debt, concessions, contracts and intellectual property. Thresholds for acquisitions by U.

This higher threshold would have exempted nearly 90 percent of U. A work program will be initiated to limit the kinds of investment transactions, such as passive investment, that would be subject to review. This issue will be revisited if circumstances change.

Government-to-government dispute settlement procedures remain available to resolve investment-related disputes. Covers the purchases of 80 Australian central government entities, including key ministries and government enterprises. Low-value contracts are excluded.

Closes potential loopholes to these provisions. Also provides for enforcement against goods-in-transit, to deter violators from using ports or free trade zones to traffic in pirated products. Ex officio action may be taken in border and criminal cases, thus providing more effective enforcement.

Rules are designed to be easier to administer. Australia commits to publish laws and regulations on the Internet, and will ensure procedural certainty and fairness.

In addition, the Agreement contains language designed to facilitate the rapid clearance through customs of express delivery shipments. Labor obligations are part of the core text of the trade agreement. Agreement makes clear that it is inappropriate to weaken or reduce domestic labor protections to encourage trade or investment between the Parties. Each of the fifty U. Environmental obligations are part of the core text of the trade agreement.

Much of the significant environmental protection in Australia takes place at the state and territory level. Reflecting their existing robust regulatory approaches, procedural guarantees that ensure fair, equitable and transparent proceedings for the administration and enforcement of environmental laws are married with provisions that promote voluntary, market-based mechanisms to protect the environment.

Skip to main content. Bilateral Investment Treaties Other Initiatives. Advisory Committee Reports on U. Free Trade Agreements Australia. New Opportunities for U. Important New Protections for U. State-of-the-Art Protection for U.