The United States and Australia have a close and cooperative trade relationship, which is underpinned by the U.S.-Australia Free Trade Agreement (FTA). The United States monitors implementation of the FTA closely and meets regularly with Australia under the FTA to discuss the functioning of the agreement and address specific trade issues.
The Joint Committee set up under the FTA supervises implementation of the Agreement and review of the overall trade and investment relationship. The agreement also establishes committees on goods, agriculture, sanitary and phytosanitary matters, and financial services as well as subcommittees on labor and environment, which report to the Joint Committee.
The full text of the Agreement is available here and the Advisory Committee Reports are available here. The latest information regarding significant trade barriers can be found in the 2024 National Trade Estimate Report, see here.
Australia Trade Summary
U.S. goods trade with Australia totaled an estimated $51.3 billion in 2024. U.S. goods exports to Australia in 2024 were $34.6 billion, up 3.1 percent ($1 billion) from 2023. U.S. goods imports from Australia totaled $16.7 billion in 2024, up 4.7 percent ($745.7 million) from 2023. The U.S. goods trade surplus with Australia was $17.9 billion in 2024, a 1.6 percent increase ($279.7 million) over 2023.
