As the U.S. Economy moves along slowly, many companies are revisiting existing trade agreements between the U.S. and countries that have a vibrant market for their goods.
Australia is one such country. Many US manufactures and distributors have seen a large increase in the number of exports being sought by Australian customers. The AUSFTA (Australia US Free Trade Agreement) established in 2005, can allow both Australian and US importers to benefit from special duty provisions in the FTA agreement. Importing products that qualify under the AUSFTA allow customers to avoid the duty, thus allowing the imported product to be more cost effective for them.
With any FTA there are guidelines and rules that must be followed. In this update we provide you with an outline of the AUSFTA and tools that will assist you.
To begin you can consult an FAQ put together by the U.S. Department of Commerce. In this FAQ the majority of your questions will be answered and additional links provided. There are also many other resources available.
A Guide to Determining the Origin of goods as defined by the AUSFTA will help you make the proper assessment to see if your products could be imported duty free under the FTA.
When shipping products that do qualify under the AUSFTA you should include the U.S. Originating Goods Declaration for AUSFTA. This will allow for clear declaration to customs when the shipment is being processed for clearance and the assessment of the correct duty & tax.