United States of America market snapshot
- GDP: US$16.98 trillion (2013)
- GDP per capita: US$53,097 (2013)
- GDP growth: 1.8 per cent (2013)
- Population: 316.4 million (2013)
- Trade with Australia: AU$54.8 billion (2013)
- Australia's investment in the United States 2013 (AU$m):
- Total: 471,672
- FDI: 121,691
- United States' investment in Australia 2013 (AU$m):
- Total: 657,888
- FDI: 149,479
Map of the United States of America - quick facts
A global centre for financial and banking services.
The busiest container port in the USA, gateway for Australian exports and one of the busiest in the world.
A major IT and services hub, and includes Silicon Valley.
Twenty percent of Hawaii's total exports are destined for Australia.
Leading business, manufacturing and corporate headquarters centre.
The US Capital and administrative centre.
A significant business centre.
The Australia-United States Free Trade Agreement (AUSFTA) is a long-term commitment and framework to strengthen trade relations and economic integration with the United States across all sectors of the economic relationship.
This Agreement significantly improves Australia's attractiveness as a destination for US investment, important for our efforts to maintain Australia at the leading edge of growth and competitiveness.
At the same time, the Agreement secures important Australian interests in areas such as health, in particular the Pharmaceutical Benefits Scheme, foreign investment screening, the audio-visual sector and our quarantine and food safety regimes.
Key interests and benefits
- Two thirds of all agricultural tariffs — including in important commodities such as lamb, sheep meat and horticultural products — were eliminated immediately, with a further 9 per cent of tariffs cut to zero in 2008, and almost all agricultural tariffs removed on full implementation in 2022 (all but sugar and out-of-quota dairy).
- Duties on more than 97 per cent of US non-agricultural tariff lines became duty free from day one of the Agreement, with all trade in goods free of duty by 2015.
- Access to US markets has been locked in for Australian service suppliers such as providers of professional, business, education, environmental, financial and transport services and a framework to promote mutual recognition of professional services has been developed.
- The US federal government procurement market, worth at least US$535 billion annually (2011), and that of 31 state governments are now open to Australia.
- The Agreement provides a strong framework to promote high levels of two-way investment between Australia and the US.
The Department's latest statistical analysis and information on Australia's trade with the Americas.
Tenth anniversary of AUSFTA brings further benefits
In accordance with the schedules under AUSFTA, a number of changes will take effect on 1 January 2015 (the 10th anniversary of the entry into force):
- remaining tariffs on textiles and some footwear products will be removed;
- tariffs on some horticultural products – such as leeks, Brussels sprouts, spinach, pumpkin and okra – will be removed;
- there will be an increase in the duty free tariff rate quotas for dairy, tobacco, cotton, peanuts and avocadoes; and
- there will be a reduction in the over-quota tariffs for beef, goya cheese, tobacco, cotton, peanuts and avocadoes.
Here you can locate the full text of the Australia-United States Free Trade Agreement.
Full text of the Agreement
Guide to the Agreement
For business queries regarding applicable tariff arrangements, please review:
- the Australian Customs and Border Protection Service website for importing into Australia, or
- the US International Trade Commission Tariff Database for importing into the United States.
AUSFTA sets out the rules for determining which goods are ‘originating’ and therefore eligible for preferential tariff treatment. Under AUSFTA, it is the importer who makes the claim for preferential treatment. Importers should be prepared to submit (on request) a statement setting out the reasons that the good qualifies as an originating good. For further information including relevant documentation see the Australian Customs Service website or the United States Customs and Border Protection website.
The Australian and United States schedules specify the applicable rate of duty and the staging category for each tariff line. The staging category establishes the rate at which the relevant tariffs will be eliminated under the Agreement. The US and Australian schedules (guide only) can be found under Chapter 2 National Treatment and Market Access for Goods.
For business queries regarding the commencement of commercial activities and trade with the United States, including business advice and support, please contact The Australian Trade Commission (Austrade).
The American Chamber of Commerce in Australia (AmCham) offers a range of services and information on trade and business with the United States.
The Department of Foreign Affairs and Trade’s latest statistical analysis and information on Australia’s trade with the United States.
- Key Outcomes
- Manufactured Goods
- Financial Services
- Government Procurement
- Intellectual Property
- Audio Visual
- Competition Issues
- Rules of Origin
- Sanitary and Phytosanitary Measures
- Technical Regulations and Standards
- Environment and labour
- Dispute Settlement
For business queries regarding applicable tariff arrangements and the import and export process, including applicable forms, please contact:
- the Australian Customs and Border Protection Service, or
- the United States Customs and Border Protection Service
For business queries regarding the commencement of commercial activities and trade with the United States, including business advice and support, please contact the Australian Trade Commission (Austrade).
For all other questions relating to policy or strategic implementation under the AUSFTA, please contact the United States Trade Section of the Department of Foreign Affairs and Trade:
US Trade Section
Department of Foreign Affairs and Trade
R.G. Casey Building
John McEwen Crescent
Barton ACT 0221
- Phone: +61 2 6261 1111
- Email: email@example.com
For media enquiries please call DFAT Media Liaison Section on +61 2 6261 1555.