After being in force for seven years, the free trade agreement Australia has with the US has yielded the former little benefit. The US has been the net beneficiary – last financial year imports from the US totalled $26 billion while exports were $9 billion. 
The figures for 2004-05 were $21.4 billion and $9.2 billion respectively.
Given this, one would naturally conclude Australia would be wary of further deals that would expose it to being taken advantage of by the US.
Continue reading “Australia gets ready to bend over for the US – again”