President Donald Trump agreed to negotiate to craft a Free Trade Agreement during his visit in the Philippines in November 2017. The U.S. is the second biggest trading partner of the Philippines with total trade of around $30 billion. U.S. goods and services trade with the Philippines totaled an estimated $29.6 billion in 2017 (latest data available). Exports were $11.5 billion; imports were $18.1 billion. The U.S. goods and services trade deficit with the Philippines was $6.7 billion in 2017.
Exploratory talks have been discussed during the years between the two governments. However, the formalization of the agreement will only be realized until President Trump informs the Congress of its intentions for an FTA with the Philippines.
The U.S.-PH Foreign Trade Agreement will have an effect to many industries and AmCham businesses. In this regard, AmCham Agribusiness Committee would like to explore the FTAs prospects and future of the Agribusiness sector concerning items to be stipulated in the agreement.