Australia Us Trade Agreement

According to Shiro Armstrong, of the Crawford School of Public Policy at the Australian National University, he concluded that more than 10 years of data from the Productivity Commission showed that Australian and US trade with the rest of the world was declining because of AUSFTA, after controlling for country-specific factors – that there was trade diversion. Estimates also indicate that trade between Australia and the United States has declined in the context of AUSFTA implementation, even after controlling for country-specific factors. [15] Shiro Armstrong also concludes that Australia and the United States have reduced their trade with the rest of the world by $53 billion and are worse off than they would have been without the deal. [16] This section recognizes the rights and obligations of Australia and the United States with respect to addressing trade barriers. These rights and obligations have been set out in the WTO Agreement on Technical Barriers to Trade, which deals with, inter alia, standards, rules and conformity assessments. It wasn`t until early 2001, after the election of George W. Bush in the United States and with John Howard in power in Australia, that an Australia-USA-FTA finally took shape.