The business relationship between the US and Australia is a “very busy two-way street”, according to April Palmerlee, who is the CEO of the American Chamber of Commerce in Australia.

With the trade and investment relationship worth almost $2 trillion, Mr Palmerlee said the relationship is “very, very significant for both countries”.

“Australia punches well above its weight, with the US investing over a trillion dollars here in Australia.

Ms Palmerlee told Sky News Australia, the growth of American businesses in Australia boomed after the Second World War, “because of the collaboration between Australia and the United States”.

“That was really the beginning of a very fruitful relationship, economically.”

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