Washington, D.C. - The U.S. – Australia Free Trade Agreement passed the House of Representatives today by an overwhelming bi-partisan vote of 314-109.  Congressman Kevin Brady (R-The Woodlands) helped advance the measure that promises to further the already strong trade and job creating relationship between the two countries. 

 

“As the fourth largest exporting state to Australia and the number one exporting state in America, this agreement means more customers and more jobs for Texas. The day this agreement goes into effect, we eliminate 99% of Australian penalties on products built here in Texas and the U.S. that are shipped and sold ‘down under’.  That’s good news for Texas workers, businesses and farmers,” said Brady. 

 

Texas companies and farmers exported $750 million in goods to Australia last year alone according to the Office of the U.S. Trade Representative.  Texas exports to Australia directly support approximately 3,500 jobs.  Another 8,400 Texans are employed by Australian owned companies.   

 

Australia is the ninth largest export market for the U.S., with annual trade in goods and services exceeding $28 billion. The U.S. enjoys a trade surplus with Australia, $9 billion last year alone.  This monumental U.S. – Australian free trade agreement will translate into increased opportunities for U.S. manufactures, farmers, and service providers. 

 

Under the agreement approved today nearly all U.S. industrial goods will be duty-free immediately.  This could result in nearly $2 billion per year increase in U.S. exports to Australia according to the U.S. Chamber of Commerce. 

 

This agreement is a win for U.S. farmers. U.S. agricultural exports will have immediate duty-free access to Australia, totaling more than $400 million annually.  Additionally, U.S. suppliers will now have the opportunity to bid on contracts to supply Australian government ministries, departments, and agencies.