US President George Bush has urged the US Congress to promptly approve a recently negotiated free-trade agreement with Australia. Following a White House meeting with Australian Prime Minister John Howard, Mr Bush said the pact would "deepen our strong economic ties" with Australia. The US Congress and the Australian parliament "should ratify the free-trade agreement as soon as possible," he told reporters.
Two-way trade between Australia and the United States totals about $28 billion a year. US industry estimates the free-trade deal would increase sales of manufactured goods by about $2 billion in the first year of implementation. US trade officials also argue the agreement would remove barriers to investment, government procurement and services. They say it also would enhance copyright protections for music, movies and computer software.
American farmers, however, have been ambivalent. As the agreement was being negotiated, cattle ranchers, dairy and wheat farmers all complained it would do little to boost their exports. US hog farmers, however, see the trade pact as a positive step.
The 13-million member AFL-CIO labour federation opposes the arrangement, which they say would lead to more US jobs moving overseas.
http://www.smh.com.au/articles/2004/06/04/1086203575637.html