Chamber of Commerce Supportive of Potential FTA With Philippines
Any work toward a free trade agreement between the U.S. and the Philippines should be supported, U.S. Chamber of Commerce Southeast Asia Senior Director John Goyer said in a blog post. The possibility of such an FTA came up during President Donald Trump's visit to the country in November (see 1711130012). "A trade agreement between the two countries is potentially a new opportunity to establish high standards, including those which the administration abandoned when it pulled out of the [Trans-Pacific Partnership]. It is an opportunity for the Trump administration to demonstrate leadership on trade by taking positive, concrete steps to strengthen U.S. economic engagement in Asia."
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Since first mentioned, "both sides agreed to continue exploratory work, assessments, stakeholder engagement, and reconvene at some point in the early spring" and "the exploratory dialogue should by all means be supported," he said. Although a deal with the Philippines would be welcome, "Asian governments have approached possible trade talks with the Trump administration warily," Goyer said. "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 the NAFTA negotiations have left foreign governments leery about entering into negotiations with Washington."