· Both sides reaffirm their obligations as members of the International Labour Organization and strive to ensure that their national laws provide for labour standards consistent with internationally recognized labour principles. The agreement makes it clear that it is inappropriate to weaken or reduce occupational health and safety at the national level in order to promote trade or investment between the parties. · Provides rules for the liability of Internet Service Providers (ISPs) for copyright infringements, which reflect the balance between the legitimate activities of the ISP and copyright infringement in the U.S. Millennium Copyright Act. The emphasis is on promoting compliance through consultations, joint action plans and trade-enhancing remedies. · The agreement is fully in line with the working objectives set by Congress in TPA. Work commitments are part of the basic text of the trade agreement. · An innovative enforcement mechanism includes monetary sanctions to enforce trade, labour and environmental obligations in the trade agreement. Article 19.2 states that “the parties recognize that it is inappropriate to promote trade or investment by weakening or reducing the protection of their respective environmental laws.” Section 10 of the Free Trade Agreement gives clear meaning to the term “cross-border trade in services” and provides suppliers with an open environment for business. It requires each country to insert national or treatment by the most advantaged countries to the other`s service providers and prohibits numerous restrictions on market access and transfers. The section also provides for the establishment of an agriculture committee that “provides Australia and the United States with a formal opportunity to discuss a wide range of agricultural issues, including trade promotion measures; Barriers to trade And to consult the export competition. In the year following the agreement, Australian exports to the United States declined, while U.S.
exports to Australia increased. This was followed by the International Monetary Fund`s prediction that the Australia-U.S. free trade agreement would slightly reduce the Australian economy due to the loss of trade with other countries. The IMF has estimated $US an additional US$5.25 billion received annually to Australia under the free trade agreement, but only $US 2.97 billion in additional exports from Australia to the United States.