A bilateral free trade agreement (FTA) between the Philippines and the United States (US) government was not on the negotiating table as the Biden administration was more focused on its Indo-Pacific Economic Framework (IPEF) initiative, US Trade Representative Ambassador Katherine Tai said Tuesday.
“In terms of a more ‘traditional’ FTA, we’re not currently negotiating any such agreements with trading partners in particular because we do not see that traditional [FTA] being appropriate for the types of challenges and opportunities that we’re facing right now,” Tai told members of the Philippine media in a briefing in Makati City.
The IPEF, launched in May 2022, is an economic initiative of US President Joe Biden with the US’ 13 trading partners —Australia, Brunei Darussalam, Fiji India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. “This is the Biden administration’s most advanced trade initiative in the Indo-Pacific and it represents the thinking and the most current type of engagement we are bringing to our trading partners,” Tai said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
G7 will stand up to ‘any coercion’ over Taiwan Strait – senior US officialThe G7 members are the United States, Japan, Germany, Britain, France, Italy, and Canada.
Read more »
Gab Valenciano returns to LA for good: 'My heart is full''Many years in the making, and finally, here we are. I am back in LA for good and ready for what's to come,' he added. 'My heart is full and overflowing with excitement and gratitude!'
Read more »
Why the rush? Hontiveros seeks Senate probe on DBP-Landbank mergerPuzzled by Malacanang’s supposed rush, opposition Senator Risa Hontiveros asked the Senate to look into the planned merger of the Land Bank of the Philippines with the Development Bank of the Philippines. | MAgerINQ
Read more »
Philippines should have preferential treatment in trade, Zubiri tells US envoyAccording to Zubiri, Tai told him that the US is back to engaging its partners on these matters under the Biden administration and that “the US will enhance its economic partnership with the Philippines to have more inclusive prosperity between the two countries.”
Read more »
Czech Prime Minister Fiala arrives in the PhilippinesCzech Republic Prime Minister Petr Fiala arrived in the Philippines on Sunday evening, ahead of meeting with President Ferdinand “Bongbong” Marcos Jr. to discuss possible partnerships on defense and trade, among others.
Read more »
'Hello' in Manila: 5 highlights from TREASURE's first solo concert in the PhilippinesTREASURE finally graced the Philippine soil with the group&39;s first-ever solo concert in Manila.
Read more »