When it comes to critical raw materials, the Commission is exploring fair trade agreements with Africa, Australia and Chile while the Canada-Europe trade deal could be a boon for sourcing nickel and rare earths.
China aims to press ahead with 15 remaining RCEP members. Japan had sought to balance China by involving India.
India has viewed FTAs as an important tool to enhance its trade and investment, and signed a number of trade agreements with various countries or groups. And India’s experience intrade with its major FTA partners has not been very encouraging.
A free trade deal with Iceland has an important benefit: It’s part of a broader plan to boost America’s presence in the Arctic region as a bulwark against Russia and China.
After the Regional Comprehensive Economic Partnership (RCEP) made substantive progress, it is now time for China to consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Japan and New Zealand to work toward expanding the existing 11-member trans-Pacific partnership free trade pact as they seek further economic and regional integration in the Indo-Pacific.
While there are clearly roadblocks to an agreement, there are also tailwinds — tailwinds that might never be stronger than they are right now.
High growth has granted the country global relevance but others may not support us if they don’t see an economic upside.
A spat between the world’s most populous countries is holding up a pan-Asian trade agreement encompassing nearly a third of all global trade.
It’s a good guess that the new global economic system will give overt political considerations greater weight than its predecessor. Countries will link trade benefits and penalties to their political agendas.
If the U.S.-China trade war continues or worsens ASEAN countries will also experience a bumpy ride.
Japan imposed export restrictions on three key chemical materials upon which South Korea is highly dependent for the production of semiconductors. With other actions, that were viewed by South Korea as a “declaration of economic war”.
Tensions between Japan and South Korea have been escalating since July 1. Japan has since placed restrictions on three chemicals critical to South Korea’s tech industry. Uncertainty exists within ongoing negotiations for the Regional Comprehensive Economic Partnership (RCEP).
As the US and Japan intensify trade negotiations, the push for a quick “mini-deal” on agriculture and autos will have far-reaching impact.
While India has tactfully used the platform to diplomatically isolate Pakistan, it must also tap into BIMSTEC’s immense potential for development, connectivity and trade in the region.
Chinese proposals for a Shanghai Cooperation Organisation Free Trade Area put forth in 2010 were not received enthusiastically by the members. In 2018, President Xi Jinping again called for the need to begin feasibility studies on the FTA, revealing the lack of progress on this issue.
After sponsoring juntas until well into the 1990s, the US went after Central and South America with “free trade” deals before once again working with extremists.
China’s expansion in Latin America of its Belt and Road initiative to build ports and other trade-related facilities is stirring alarm in Washington over Beijing’s ambitions in a region that American leaders since the 19th century have seen as off-limits to other powers.
Now that the Trump administration has revamped the North American Free Trade Agreement, it is taking a look at kicking key countries out of its sister pact, the Central American Free Trade Agreement.
The US-Africa Strategy seeks to re-position the US and bring it to par with China and Russia.