‘Urgency’ for Asia Pacific mega trade deal as the US mulls $200 billion tariffs on China
While the administration of U.S. President Donald Trump is considering slapping another $200 billion in tariffs on Chinese goods, 16 economies in Asia Pacific are racing to conclude a mega trade deal that would become the largest trading bloc in the world.
What’s happening in the U.S. “has actually given us the urgency” to press on with negotiations to reach an agreement, Ramon Lopez, the Philippines’ secretary of trade and industry, told CNBC’s Sri Jegarajah on Friday.
When completed, the Regional Comprehensive Economic Partnership, or RCEP, would account for about one-third of the global economy.
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