U.S. free trade deal far from realization

WASHINGTON, D.C. — Philippine Ambassador to the United States Jose Manuel “Babe” Romualdez on Sunday said that a free trade agreement (FTA) between the Philippines and the United States is still far from reality.

In an interview at the Philippine Embassy in the US, Romualdez explained that the country’s government is focusing on negotiating the 20 percent tariff rate imposed by the Trump administration.

“That is still very far — in the sense that we have to get over this particular discussion first on the tariff. After that, we are hoping that the Free Trade Agreement would probably come into play,” he said.

FTA talks started

An FTA between the Philippines and the US would be a bilateral deal aimed at eliminating or reducing trade barriers — like tariffs and quotas — between the two countries. It would likely cover goods, services, intellectual property, labor and investment protections.

Romualdez recalled that discussions on an FTA had already begun during the early stages of a previous US administration, and both sides were moving toward a possible agreement.

“But that changed, obviously, with the new administration. Now, we are bringing that back into play, and hopefully we will be able to come out with something mutually agreeable for both the United States and the Philippines,” he said.