Australia

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.