United States-Philippines Free Trade Agreement

However, Asian governments have cautiously approached possible trade negotiations with the Trump administration. The U.S. withdrawal from the TPP, threats to withdraw from the U.S.-Korea free trade agreement, and a series of heterodox proposals in NAFTA negotiations have left foreign governments in limbo for the opening of negotiations with Washington. The idea of a free trade agreement between the Philippines and the United States has been debated since the end of the preferential trade status of the Philippines in the United States, as part of the transitional arrangements between colonial rule and total independence. These discussions have never gained strength, not least because the Philippines has taken a cautious approach to a free trade agreement and has never negotiated a Saa outside the ASEAN framework. He was pleased to use the Generalized Preference System (USPG), which provided duty-free treatment for approximately 5,000 inch lines with minimum reciprocal concessions. The United States, on the other hand, has been more inclined to pursue its trade objectives through the WTO and in regional trade agreements. In the meantime, exploratory dialogue should in any case be supported. A trade agreement between the two countries is potentially another opportunity to set high standards, including those that the government abandoned when it withdrew from the TPP. This is an opportunity for the Trump administration to show leadership in trade by taking positive and concrete steps to strengthen U.S. economic engagement in Asia. In October 2018, Lopez and U.S. Trade Representative Robert Lighthizer announced that bilateral trade issues between the two countries had been resolved under the Trade and Investment Framework Agreement (TIFA).

At least in the short term, this is the only U.S. market opening initiative in Asia. It`s the only game in town. We have to play. MANILA (Reuters) – The Philippines will begin negotiations for a free trade agreement with the United States in September, its ambassador in Washington said on Thursday to expand market access for its agricultural products. “This is just the beginning and it will take time, maybe a year or two,” Romualdez said, adding that the Philippines would have a trade surplus of $5.4 billion in 2016 with the United States, one of the country`s main trading partners. Romualdez said a free trade agreement with the world`s largest economy would likely be approved, as the Philippines is a much smaller U.S. trading partner than China and Europe, which have become goals of the Trump administration`s “America First” trade agenda. Other ASEAN free trade agreements have concluded a preferential agreement with China, Hong Kong, India, Japan, South Korea, Australia and New Zealand. Visit www.dti.gov.ph/15-main-content/dummy-article/682-free-trade-agreements and tariffcommission.gov.ph/finder/ for a list of Philippine trade agreements and tariff plans and related commitments.