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FTA clears its first hurdle
16 Jul 2004
The US House of Representatives has voted overwhelmingly in favour of legislation relating to the Australia-US free trade agreement. The deal now has to clear the US Senate, before implementation on January 1, 2005.
The FTA is aimed at binding the Australian and US economies closer together, but represents a disappointing outcome for many Australian farmers. Sugar exporters were excluded from the deal, dairy producers received minor concessions and beef exporters are subject to long phase-in arrangements for quota increases.
The US National Family Farm Coalition expressed strong opposition to the legislation and said the FTA is bad for US dairy farmers - in fact bad for all US family farmers.
Australian Financial Review, 16/7/04.
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