A.1-Australia OverviewAustralia - An Overview
General InformationThe United States-Australia Free Trade Agreement (FTA) entered into force on January 1, 2005. As a result of the FTA, tariffs that averaged 4.3 percent were eliminated on more than 99% of the tariff lines for qualifying U.S. manufactured goods exported to Australia.
Since the entry into force, two-way trade between the United States and Australia has increased by 76 percent, with a U.S. trade surplus of $25.4 billion in 2015. The United States exported $25 billion in goods and $22.3 billion in services to Australia in 2015. In addition, foreign direct investment between the U.S. and Australia has more than doubled since 2005.
In addition to tariff elimination, the FTA affords substantial benefits in a broad range of other sectors. The FTA opened markets for services such as life insurance and express delivery, improved protection of intellectual property and helped facilitate American investments through predictable access and a stable business environment. For the first time, in many sectors, American firms are now allowed to compete for Australia's government purchases on a nondiscriminatory basis. U.S. farm exports benefit from duty-free treatment, including processed foods, fruits and vegetables, corn, and soybeans. The FTA also made advances in e-commerce and market access for pharmaceuticals.
Legal Text of FTA
U.S. Commercial Office in Australia Prepared by the International Trade Administration. With its network of 108 offices across the United States and in more than 75 countries, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Australia Free Trade Agreements