Citizens for a Sound Economy (CSE) and its 360,000 members urge the U.S. Senate to VOTE YES and pass the “United States-Australia Free Trade Agreement Implementation Act” (S. 2610). This bill will ratify the US-Australia Free Trade Agreement as negotiated by our trade representatives. S. 2610 lowers trade barriers, creates mutual economic gain, and brings us closer to a valuable ally.
A free trade agreement with Australia will spur economic growth. According to the Cato Institute, the measure will make it easier to access the Australian market and will boost American exports to Australia by $1.9 billion. In fact, Australian tariffs on 99 percent of American goods will be eliminated if the measure goes into effect. Moreover, the agreement will give American consumers greater access to Australian exports, and the 83,000 Americans who invest in Australia will benefit from the relaxed investment rules. The total gain for the U.S. economy is estimated by the Cato Institute at $2.1 billion.
S. 2610 reverses the recent protectionist trend we have seen with the steel tariffs and the subsidy laden agricultural bill. This agreement is an important step in promoting free trade relations with the rest of the world.
CSE will count the vote on S. 2610 as a KEY VOTE, used in calculating the CSE Economic Scorecard. The CSE Economic Scorecard is used to determine eligibility for the Jefferson Award, which recognizes those Senators with voting records that support economic freedom.
Matt Kibbe, President
Citizens for a Sound Economy