U.S., Australia Reach Trade Pact; Manufacturers Gain

[charrison]

Linkage

The U.S. and Australia reached a free trade agreement that would reduce tariffs on almost all manufactured goods, while maintaining protections on U.S. sugar and Australian subsidies on pharmaceuticals.

The agreement will benefit U.S. companies such as Caterpillar Inc., the world's largest maker of earth-moving equipment, and Dana Corp., the world's biggest maker of pickup trucks. Australian sugar producers, who had sought inclusion in the accord, were excluded from gaining access to the U.S. market.

``It's hard to call this a free trade deal when sugar -- the area that was going to benefit Australia most -- is out of the equation,'' said Ian Ballantyne, general manager of Canegrowers, Australia's largest association of sugar cane farmers.

The U.S. has estimated that the accord will lead to an additional $2 billion a year in exports of manufactured goods alone. Two-way trade between the countries reached $28 billion last year, the office of the U.S. Trade Representative said.

This covers 99% of goods traded between the 2 countries.

 

[dmcowen674]

Originally posted by: charrison
Linkage

The U.S. and Australia reached a free trade agreement that would reduce tariffs on almost all manufactured goods, while maintaining protections on U.S. sugar and Australian subsidies on pharmaceuticals.

The agreement will benefit U.S. companies such as Caterpillar Inc., the world's largest maker of earth-moving equipment, and Dana Corp., the world's biggest maker of pickup trucks. Australian sugar producers, who had sought inclusion in the accord, were excluded from gaining access to the U.S. market.

``It's hard to call this a free trade deal when sugar -- the area that was going to benefit Australia most -- is out of the equation,'' said Ian Ballantyne, general manager of Canegrowers, Australia's largest association of sugar cane farmers.

The U.S. has estimated that the accord will lead to an additional $2 billion a year in exports of manufactured goods alone. Two-way trade between the countries reached $28 billion last year, the office of the U.S. Trade Representative said.

This covers 99% of goods traded between the 2 countries.

Oh Goody, another Country gets to share in the Goory of outsourcing all it's jobs to China and India.

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison
Linkage

The U.S. and Australia reached a free trade agreement that would reduce tariffs on almost all manufactured goods, while maintaining protections on U.S. sugar and Australian subsidies on pharmaceuticals.

The agreement will benefit U.S. companies such as Caterpillar Inc., the world's largest maker of earth-moving equipment, and Dana Corp., the world's biggest maker of pickup trucks. Australian sugar producers, who had sought inclusion in the accord, were excluded from gaining access to the U.S. market.

``It's hard to call this a free trade deal when sugar -- the area that was going to benefit Australia most -- is out of the equation,'' said Ian Ballantyne, general manager of Canegrowers, Australia's largest association of sugar cane farmers.

The U.S. has estimated that the accord will lead to an additional $2 billion a year in exports of manufactured goods alone. Two-way trade between the countries reached $28 billion last year, the office of the U.S. Trade Representative said.

This covers 99% of goods traded between the 2 countries.

Oh Goody, another Country gets to share in the Goory of outsourcing all it's jobs to China and India.

I guess you are dissappointed that they dont make adsl modems?

Actually free trade between austrailia and the US is good thing.