Amends 22 U.S.C. 2778 by inserting language into subsection (f)(3) and by striking the existing subparagraph (C) of subsection (j)(1) and inserting new subparagraphs (C) and (D). The new (C) creates an exception for the United Kingdom to the requirement to conclude a bilateral agreement for exemptions from licensing requirements. The new (D) creates an exception for defense cooperation treaties (specifically citing the U.S.-Australia Defense Trade Cooperation Treaty of September 5, 2007 and implementing arrangements) but excludes specified categories of defense articles and services (items listed in the Missile Technology Control Regime Annex Category I and II, certain U.S. Munitions List Category XIV subcategories, U.S. Munitions List Category XVI(a)-(b) and related items, and items Australia cannot enforce under its laws, regulations, or commitments).