The Australia-United States Free Trade Agreement is the abbreviation that defines the bilateral free trade agreement between the USA and Australia.
Yes, Australia and the United States have a free trade agreement (FTA).
The full form of AUSFTA is Australia-United States Free Trade Agreement.
The benefits of AUSFTA include the elimination or reduction of tariffs on trade between the two countries, increased market access, and improved trade relations. It also includes provisions on intellectual property, labor, and environmental standards.