House approves FTA with Australia

House approves FTA with Australia

The Straits Times reports that the U.S. House of Representatives approved the Free Trade Agreement (FTA) with Australia today - 314-109. The Senate takes it up tomorrow: "US House approves FTA with Australia"

"...The measure had robust bipartisan backing because Australia, unlike less developed free-trade partners, has strong labour rights and environmental laws and poses no threat to US jobs. 'If you can't agree with this trade agreement, I don't know what trade agreement you're ever going to agree with,' said Representative Jim Moran...

Update,  July 15:  The U.S. Senate approved the FTA today, 80-16.  Prescription drug issues were a potential sticking point, according to The Australian: "US-Australia FTA approved"

"...A rare sticking point during the two days of debate was language that some lawmakers said could undermine efforts to legalise importation of cheaper prescription drugs...

But lawmakers also objected to language reconfirming US law under which patent holders keep control over sale of imports of their products in the United States, saying that could prevent drug importation.

"It's an attempt once again to thwart those in this country who want to find a way to put downward pressure on prescription drug prices," said Senator Byron Dorgan, a Democrat.

But the USTR emphasised the agreement creates no new rights for US patent holders, that Australia bans exports of its subsidised pharmaceuticals, and that the pact does not alter Congress' authority to change US law on importation."