U.S. Relations With Australia
Australia is a vital ally, partner, and friend of the United States. The United States and Australia maintain a robust relationship underpinned by shared democratic values, common interests, and cultural affinities. Economic, academic, and people-to-people ties are vibrant and strong. The two countries marked the 75th anniversary of diplomatic relations in 2015. In 2017, the United States and Australia marked the 75th anniversary of several key World War II battles, including the Battles of the Coral Sea, Midway, and Guadalcanal. In 2018, the two countries marked 100 Years of Mateship (Friendship), commemorating the Battle of Hamel in which U.S. and Australian forces first fought side-by-side.
Bilateral Economic Relations
The U.S.-Australia Free Trade Agreement (FTA) entered into force on January 1, 2005. The U.S.-Australia FTA has boosted U.S. goods exports to Australia by more than 80 percent since 2004 (pre-FTA); U.S. services exports are up by over 200 percent from 2004. In 2018, total U.S. goods and services trade with Australia totaled US $65.9 billion, and the United States ran a trade surplus of US $28.9 billion. According to U.S. Department of Commerce estimates, U.S. exports of goods and services to Australia support nearly 250,000 U.S. jobs, in sectors including machinery, travel services, industrial supplies and materials, consumer goods, and financial services. In return, Australia exports foods, feeds, and beverages; industrial supplies and materials; and business and travel services. Australia has proven to be an appealing and profitable market for U.S. companies for many years. It offers very few barriers to entry, a familiar legal and corporate framework, and a sophisticated – yet straightforward business culture.