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. Chapter 19 raises concerns that a relaxation of environmental legislation would allow the parties to obtain commercial benefits. In the year following the agreement, Australian exports to the United States declined,[10] while U.S. exports to Australia increased. This was followed by the International Monetary Fund`s prediction that the Australia-U.S. free trade agreement would slightly reduce the Australian economy due to the loss of trade with other countries.

The IMF has estimated $US an additional US$5.25 billion a year to Australia under the free trade agreement, but only $US 2.97 billion in additional Australian exports to the United States each year. [11] It is not clear, however, that the deterioration of Australia`s trade deficit with the United States can be attributed solely to the free trade agreement. This could be a deferred effect of the appreciation of the Australian dollar against the U.S. dollar between 2000 and 2003. o The agreement establishes a new mechanism for scientific cooperation between the AUTHORITIes of the United States and Australia to resolve specific bilateral issues of animal and plant health. In this section, it was agreed on the conditions of fair trade between telecommunications industries in different countries. In particular, the rules exclude measures relating to the transmission or cable distribution of radio or television programmes. o The USDA Animal and Plant Health Inspection Service and Biosecurity Australia will hold a permanent technical working group, including the representation of trade agencies, to engage as early as possible in each country`s regulatory process to cooperate in the development of science-based trade measures between the two countries. Following the signing of the free trade agreement, there was initial talk that the U.S. agricultural sector would put pressure on the agreement, fearing that it would interfere with the government`s agricultural subsidy program. However, the agreement with deadlines for importing Australian agricultural products, such as beef and sugar cane, has allayed concerns in the US agricultural market (while many Australian producers were very frustrated).

A coalition of unions and other groups opposed the agreement because it would create nafta-like problems. [indicate] In addition, workers` groups expressed concern about the agreement. In a report to the USTR office, the Laboratory Advisory Committee (LAC) recommended that Congress reject the U.S.-Australia free trade agreement because they believed the agreement did not meet the negotiating objectives of Congress. [6] · Engages both parties to authorize the seizure, forfeiture and destruction of counterfeit goods and unauthorized products as well as equipment used in their manufacture. In addition, there are plans to enforce goods in transit to prevent offenders from using ports or free trade areas to trade in pirated goods. In criminal and border matters, measures can be taken automatically to ensure more effective enforcement. o Beef: U.S. quota tariffs will expire over an 18-year period. Initial imports from Australia under the QRT quota will account for approximately 0.17% of U.S. beef production and 1.6% of U.S.

beef imports. Quota increases will come into effect if the U.S.