Together with the Vietnam-European Union (EU) Free Trade Agreement (EVFTA), the newly signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to bring about huge economic benefits for Vietnam and generate millions of jobs, including jobs in small to medium-sized enterprises (SMEs).
On March 5th, Wilbur Ross, the US Commerce Secretary went on record to say that he had no reason to believe that President Trump would reverse his tariff plan.
In his first year in office, President Donald Trump broke sharply with many long-standing traditions in US foreign policy. Surprisingly, the attention the administration is paying to Southeast Asia has been one area of relative continuity.
On March 8, President Trump clarified his plan to enact new tariffs on steel and aluminum imports, citing a rarely used national security clause. It’s a risky move — it may fulfill a campaign promise in an attempt to boost growth in sectors and regions hurt most by globalization, but also kick off a massive trade war with U.S. allies and adversaries.
In January, a year after the US announced its withdrawal from the Trans-Pacific Partnership (TPP), the 11 remaining TPP countries agreed on a new version of the pact: the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Regarding the impact of the CPTPP on Vietnam, talking to Vietnam Customs News reporters, Mr. Tran Toan Thang Head of Department of World Economic Affairs, NCIF of the Ministry of Planning and Investment said that, in order to take opportunities as well as deal with challenges, the development of an action plan is quite important.
The revived version of the TPP will reduce tariffs in 11 economies that together account for more than 13 per cent of the world’s GDP. Here’s what it’s all about:
The year is a momentous one for India-Asean (Association of Southeast Asian Nations) relations, marking the 25th anniversary of a rapidly expanding collaboration, the 15th year of dialogue partnership and the fifth anniversary of an immensely critical strategic cooperation.
On a recent visit to China, Canadian Prime Minister Justin Trudeau was assailed by Beijing's state-controlled media for making comments about the importance of “Fair Trade.” His remarks were part of a wider discussion about a possible free trade agreement between Canada and China -- but, in fact, they exposed glaring differences between the value-systems of China and the West, and how these differences are fracturing the global trade landscape.
We want strong partners in Asean. Especially given the rising pressure from China.” This blunt remark is not the handiwork of a US government official. It came from EU Trade Commissioner Cecilia Malmström last Friday
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