In response to a decision by the US Supreme Court on 20 February 2026, the United States terminated the reciprocal tariffs imposed under the International Emergency Economic Powers Act in April 2025. The United States subsequently imposed a new global 10 per cent Temporary Import Surcharge which will apply to most goods imported to the United States. Some goods are subject to a higher tariff rate, while others are exempt.

Global Victoria's expert team of trade specialists led by our Commissioner to the Americas, Brett Stevens, can provide your business with in-market guidance.

Connect with our team to learn how we can help your business successfully engage with the U.S. and Canada.

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Key industries of opportunity for Victorian exporters

The U.S. life sciences industry represents the world’s largest health and life sciences market, fuelling worldwide innovation through massive investments providing capital to companies in the biotech, pharmaceutical, medical device, and diagnostics sectors. While several potentially disruptive forces could reshape the life sciences industry in 2025, the U.S. remains the leading export market for the Victorian medical technologies and pharmaceuticals sector.

Beyond the U.S., there are growing collaborations between Canada and Australia that are helping to accelerate the commercialisation of innovative treatments and technologies, including in areas such as regenerative medicine and genomics.

We're helping Victorian companies connect to biotechnology, pharmaceuticals, medtech, digital health, and healthcare services opportunities.

With Victoria’s leading bio-medical precincts, clinical trial capabilities, and thriving health and medtech startup ecosystems, we're seeing increased interest in partnerships between Victorian and North American organisations.

The U.S. is Victoria’s largest export market for meat products (valued at over A$1.5 billion exports in FY2023-24).

Approximately half of Victoria’s merchandise exports to Canada are agricultural products (top exports including meat, fruit, nuts, and alcoholic beverages).

The U.S. and Canada offer Victorian food and beverage manufacturers diversification and expansion opportunities across a range of product categories, including specialty, premium  and emerging categories, such as native foods and alternative proteins.

As outlined in Victoria’s Defence Vision Statement, defence and aerospace SMEs form a backbone of Victoria’s broader advanced manufacturing ecosystem, with over 2,500 businesses capable of providing goods and services for defence-related projects. Global Victoria’s defence specialist, based in Washington D.C. is available to assist Victorian companies to connect with key defence industry contacts and trade opportunities in the Americas.

The AUKUS agreement announced in 2021 offers major opportunities for Victorian companies. Our supply chain has key capabilities for this generational national endeavour, with competitive strengths for both AUKUS Pillars: (1) nuclear-powered submarines, and (2) advanced capabilities, such as cyber, AI, quantum and hypersonics.

Digital technologies are a key accelerator and driver of economic growth.. The U.S. is the largest tech market in the world.  Key tech clusters across the U.S. include the West Coast  (San Francisco Bay Area, Los Angeles, San Diego, Seattle, Denver, Utah), New York, Austin and Miami.   Key tech clusters in Canada include Toronto, Vancouver, Ottawa, Montreal and Waterloo.

Key sub-sectors include Cybersecurity, Sportstech, Fintech and Edtech plus the application of technologies such as robotics, digitalisation, blockchain and AI across industrial value chains.

The U.S. is the largest consumer market in the world. The rise of eCommerce and direct-to-consumer (DTC) models led by Gen Z and millennials is reshaping the industry.

Engaging with social media influencers is increasingly important to succeed in selling online in the U.S., and due to the sheer size of the market, companies should be aware that high volumes of products can be demanded by suppliers and distributors.

The US selective beauty industry is highly competitive, but home to some of the world’s largest beauty corporations. Victorian brands are well-positioned to meet the growing demand from Gen Z consumers for organic, natural, and ethically produced beauty products.

Manufacturing is a $39.2 billion industry and a cornerstone of the Victorian economy, providing a diverse range of jobs, boosting exports and contributing to economic growth. There are opportunities for Victorian companies to think innovatively, use advanced technologies, expand their research and development and create new partnerships and international connections.

Advanced manufacturing is cross-cutting and our team is exploring opportunities for Victorian companies related to additive manufacturing, mining, sustainability, water and climate technologies.

Canada is a leading mining jurisdiction and is a globally significant producer of platinum, gold, nickel, copper, iron ore, titanium, uranium, potash and many rare earth elements. Many Victorian headquartered mining companies and Victorian METS are active in the region.

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