Which statements describe the goals of the US-Australian trade agreement? CHECK ALL THAT APPLY.
to free the nations of their obligations under the WTO agreement
to encourage more open communication on commerce matters
to improve each nation’s living standards
to expand bilateral investment and trade
to increase tariffs and import regulations

1. Incorrect. The treaty reminds the two countries that they must comply with the WTO rules on the treatment between two countries, reminding both countries to give goods imported from the other country the same treatment as goods produced in the same country.

2. Correct. The treaty facilitates greater openness in communications as regards commercial matters. It also pays attention to provide cooperation facilities to any mechanism that facilitates the exchange between countries.

3. Correct. Although no special mention is made of the standards of living in each country, the measures taken improve these standards to the extent that access is given to a greater number of exchange goods.

4. Correct. The treaty provides guarantees to investors on both sides that their investments are as secure as they are in their own country.

5. Incorrect. Most tariffs and import regulations for products between the two countries are eliminated.