The Australia-United States Free Trade Agreement (AUSFTA) entered into force on 1 January 2005. Upon AUSFTA's entry into force, more than 97 per cent of Australia's non-agricultural exports to the United States (excluding textiles and clothing) became duty free and two-thirds of agricultural tariff lines went to zero. Under AUSFTA, Australian companies also have access to the federal government procurement market in the United States and the government procurement markets of 31 US states.
Since AUSFTA came into force in 2005, bilateral goods and services trade between Australia and the United States has more than doubled, and two-way investment has more than tripled.
In 2023, the United States was our third-largest two-way trading partner in goods and services, worth $98.7 billion. Australia's goods and services exports to the United States were $33.6 billion. Australia's total imports from the United States were $65.1 billion.
The United States is the largest and most significant investor in Australia, with investment in Australia standing at $1.17 trillion in 2023. The United States is also by far Australia's largest foreign investment destination, with investment in the US standing at $1.20 trillion in 2023. Two-way investment has more than tripled since the Agreement came into force.
AUSFTA provides for a Joint Committee to meet annually (or as otherwise agreed) to supervise the implementation of AUSFTA and review the trade relationship between the parties.
Useful links
- AUSFTA official documents
- Visit DFAT’s FTA portal for information on tariffs, and importing and exporting to the United States.