Philippine’s International Trade Regime with USA
Using the country you signed up for, discuss in a blog entry of 250-300 words the following questions, being sure to draw from our text and beyond and being sure to cite your sources carefully in APA style.
1. What kind of trade regime does this country currently have (include key exports and imports) and what trade tools does it employ to help maintain it—i.e., tariffs or non-tariff barriers.
2. How have previous US exporters fared in this country and why?
3. How does its current trade regime serve its political and/or economic agenda? (See slide 26 on trade).
The first part is your primary blog (3 good paragraphs). Create a thread with your last name in the title followed by your topic. For example: "Lauer – Trade Regimes: Denmark. Then, write your post. Do not attach it as a Word doc. Create your post and copy it directly into the box provided by BB. Once you have created your primary thread, you will be able to see your classmates' threads. Until you submit your primary thread, you cannot see your classmates' threads. You will also not be able to go back and modify your primary thread after reading your classmates' threads.
Philippine’s International Trade Regime with USA
Name
Course
Institution Name* – Trade Regimes: Philippine
Philippine and the United State (U.S.) have maintained strong trade and investment relations for over a century, this relationship is based on a bilateral Trade and Investment Framework (TIFA) that was completed and signed by the two countries in 1989 (U.S. Department of State, 2018). Within the trade framework, the countries negotiate special tariffs, tax exceptions and incentives to encourage trade and flow of goods and services between the countries. According to the U.S. Department of states, 2018, the U.S. is Philippines 3rd biggest trading partner and among Philippine’s top foreign investors. The main goods exported from Philippines to the U.S. are computer accessories, semiconductor devices, electric gadgets, automobile parts, clothes and textiles, coconut oil, wheat, animal feeds and outsourced business and information technology services (ibid). On the other hand the U.S. exports transport equipment and machinery, raw materials for the manufacture of semiconductors, electronics and cereals to Philippines. In addition to the bilateral TIFA and a tax treaty which enable these countries to negotiate trade tariffs, special economic zones promote import and export of goods in Philippines through simplified trade procedures, tax reductions and tariff exemptions (World Trade Organization, 2018).
The tariff Act of 2016 and modernization of the Philippine Customs played a big role in ma...
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