Australia Us Free Trade Agreement Text

Михаил Рожко/ Апрель 8, 2021/ Без рубрики/

In the United States, the free trade agreement improved the overall trade deficit and generated a trade surplus with Australia, which increased by 31.7% in the first quarter of 2005 compared to the same period in 2004. U.S. exports to Australia increased by 11.7% in the first quarter of 2005 to nearly $3.7 billion. Agricultural exports to Australia increased by 20%. [Citation required] Many people on the Australian film and television scene have expressed concern about the impact of the agreement on government rules to impose a mandatory minimum of locally produced content on television. Given that US content can be purchased by networks at a reasonable price compared to local production of Australian content, there was concern that the agreement would further reduce the proportion of domestic media in Australian television channels and Australian cinemas. As a result, the Media, Entertainment and Art Alliance, as well as a number of prominent artists, have individually supported the rejection of the free trade agreement because it would undermine Australian culture. Special tariff quotas are part of the agreement. These quotas allow Australian producers to export larger quantities of these products to the United States duty-free during the duty elimination period. The following agricultural products are designated: The objective of the “Safeguard measures” section of the agreement is to create an agreed structure for the protection of serious adverse effects for each country during the transition period following the abolition of tariffs. Countries also agree to consider excluding the application of WTO safeguards on a global scale with respect to imports from the other country where such imports are not the source of the harm to domestic industry. According to the Australian Department of Foreign Affairs and Trade, the trade imbalance between the United States and Australia increased significantly in 2007. The United States has become Australia`s largest source of imports, with more than AUD 31 billion in goods and services.

However, Australia`s exports to the United States reached only $15.8 billion. [12] The real benefits of the agreement are not clear. In conjunction with the current WTO agreement on health and plant health measures (SPS), two committees are created in this section to ensure compliance with the provisions of the SPS agreement. ESTV has opened markets for services such as life insurance and express deliveries, improved intellectual property protection and helped facilitate U.S. investment through predictable access and a stable business environment. For the first time, U.S. companies in many sectors are not allowed to compete with Australian government purchases. U.S. agricultural exports receive duty-free treatment, including processed food products, fruits and vegetables, corn and soybeans. The free trade agreement has also made progress in the area of e-commerce and access to the drug market. Australia as a whole is heavily dependent on the primary sector and the main benefits of a free trade agreement between the two countries were seen as better access to the large U.S. market, but heavily subsidized and protected by Australian producers.

In particular, the national party in the countryside and in the region is firmly committed to extending the agreement to the export of sugar. The possible provisions of the agreement did not go as far as expected and, as a result, some sugar industry lobbyists, particularly independent Bob Katter, insisted that the free trade agreement be rejected. However, many, like Peter Beattie, then Premier of Queensland, still saw the agreement as a net benefit to Australian agriculture and supported ratification on that basis.