Australia-United States FTA
12 July 2021
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. 96.1 per cent of all Australian exports are now tariff-free. 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.
2020 marked 15 years since the Australia-United States Free Trade Agreement (AUSFTA) entered into force. Over this period, goods and services trade between the two countries has almost doubled.
In 2019-20, the United States was our second-largest two-way trading partner in goods and services, worth $80.8 billion. Australia's goods and services exports to the United States were $27.4 billion. Australia's total imports from the United States were $53.4 billion.
The United States is the largest and most significant investor in Australia, with investment in Australia standing at $929 billion in 2020. The United States is also by far Australia's largest foreign investment destination, with investment in the US standing at $864 billion in 2020. Two-way investment has almost 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.