US Willing to Negotiate Bilateral FTAs With Any APEC Country as Non-US TPP Moves Forward, Trump Says
The U.S. is willing to negotiate bilateral trade agreements on the basis of fairness and reciprocity with “any country” in the Asia-Pacific Economic Cooperation (APEC) group region, President Donald Trump told other nations’ leaders during the 25th annual APEC Economic Leaders’ Meeting on Nov. 11 in Da Nang, Vietnam, according to a White House fact sheet. Trump's remarks come after trade ministers from the now 11 Trans-Pacific Partnership (TPP-11) member states on Nov. 9 and 10, in Da Nang, Vietnam, reached an agreement to implement the deal without the U.S., which withdrew in January (see 1701300020).
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
TPP-11 members also released a list of provisions that would be suspended when such an agreement would take effect, including current language that would require parties to not assess customs duties on express shipments valued at or below countries’ de minimis levels and to review their de minimis levels “periodically,” as well as language that would direct members to start talks no later than three years after entry into force on expanding national and sub-central procurement opportunities. That provision is being replaced with wording that would require any such procurement talks to start no earlier than five years after TPP-11 activation.
The parties also included in the list of suspended provisions four more items that must be finished before officials sign to approve the updated agreement, including issues on state-owned enterprises related to Malaysia, coal related to Brunei, dispute settlement related to Vietnam, and “cultural exception” related to Canada. But largely, the TPP will incorporate the original agreement with “the exception of a few technical provisions,” according to a statement from the 11 countries.
APEC comprises the U.S., China, Australia, Brunei, Canada, Chile, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei (Taiwan), Thailand and Vietnam. The U.S. already has free trade agreements with seven of those countries. In addition to announcing the U.S.’s openness to new bilateral FTAs, Trump, along with other APEC leaders, called for full implementation of the World Trade Organization Trade Facilitation Agreement to “realize meaningful and widespread benefits,” and committed to enhancing regional food standards and reducing food trade barriers, including “burdensome and unnecessarily restrictive trade measures,” the White House fact sheet says.