In today’s The Australian, Tim Wilson details the benefits of the US/Australian Free Trade Agreement (FTA). Refuting the self-interested claims of the anti-trade minority he highlights the huge increases in U.S. investment in Australia since the inception of the agreement in 2005:

“According to the latest Australian Bureau of Statistics data, total US investment... has increased by an average of $20bn a year...”
“And attacking a marginal trade deficit increase ignores that free trade is not a zero-sum game and that imports deliver benefits as well.”

But freeing trade is an ongoing task. Industry lobbyists, economic nationalists and vested interests continue to badger Kevin Rudd’s administration to protect their little piece of the pie- such as the recent implementation of protectionist local-content thresholds for government contracts. This poses dangers, not only for the continuing success of the US agreement, but also for the freshly signed Australia-New Zealand FTA with ASEAN countries.
 

Both agreements promise to be hugely mutually beneficial- let’s hope that Rudd et al hold firm in their commitment to free trade and don’t allow those committed to making money from spoiling the agreements impede upon proceedings.