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Oct 25, 2018
U.S. Trade Representative Robert Lighthizer and his Philippine counterpart announced this week that the two countries agreed to improve agricultural trade by working towards reducing tariff and non-tariff barriers. This is a possible first step in moving towards a free trade agreement with the Philippines, which ASA has on its short list of desired trading partners.
U.S. total exports of agricultural products to the Philippines totaled $2.6 billion in 2017. Leading domestic export categories include: soybean meal ($748 million), wheat ($555 million), dairy products ($243 million), pork & pork products ($98 million), and soybeans ($92 million).
The Philippines has some of the highest food prices of any Southeast Asian nation and would benefit from a free trade agreement with the United States.
