U.S., Australia trade pact effective January 1

The U.S. Trade Representative's office reports that the U.S. and Australia intend to implement the U.S.-Australia free trade agreement on January 1, 2005.

Nonetheless, there are still aspects of the pact, such as IPR provisions, that are still being worked out between the two trade partners.

Under the agreement, over 99 percent of U.S. manufactured exports to Australia will become duty free, while all U.S. agricultural exports will be duty free.

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