U.S.-Australia trade pact moves toward ratification
The U.S. House of Representatives voted to approve the U.S.-Australia Free Trade Agreement negotiated by the Bush administration earlier this year. The Senate must still take up and pass the legislation for it to become law.
Australia is the ninth-largest export market for U.S.-made goods. The bilateral trade deal eliminates virtually all tariffs on manufactured goods, while phasing out tariffs on various agricultural and other products over time.