How does trade with australia help the u.s or hurt us?

Question

How does trade with australia help the u.s or hurt us?

Answer 1

Trade is usually financially beneficial to both parties in a transaction.

Answer 2

Well, it hurts Australia, so it must help the US.

We sell our minerals and primary produce to you at ridiculously cheap prices because your markets are so much larger than ours. In turn, we import primary produce produced by your very heavily subsidised farmers instead of buying them from our own farmers who receive no subsidies at all - NONE!

We import vast quantities of manufactured goods from the US and export virtually none to you.

The balance of trade is in favour of the US across every type of product. For example, in 2007 Australian exports of Merchandise to the US were $761 million and the corresponding imports were $2120 million.

When you consider that we have a population of only 22 million people vs America's 301 million, this imbalance must be benefiting the US to the detriment of Australia.