Any work toward a free trade agreement between the U.S. and the Philippines should be supported, U.S. Chamber of Commerce Southeast Asia Senior Director John Goyer said in a blog post. The possibility of such an FTA came up during President Donald Trump's visit to the country in November (see 1711130012). "A trade agreement between the two countries is potentially a new opportunity to establish high standards, including those which the administration abandoned when it pulled out of the [Trans-Pacific Partnership]. It is an opportunity for the Trump administration to demonstrate leadership on trade by taking positive, concrete steps to strengthen U.S. economic engagement in Asia."

The NAFTA renegotiation is going “pretty good,” despite its first iteration “being a terrible deal for us,” President Donald Trump said in an interview with The New York Times published Dec. 28. Trump’s words differ in tone from harsher characterizations of trade talks earlier this year, including an August tweet (see 1708280025). However, Trump did say he would “terminate NAFTA in two seconds” if he doesn’t “make the right deal.” Trump also cited a projected $17 billion average goods trade deficit with Canada for 2017, when oil and lumber are factored in, as well as an anticipated $71 billion yearly goods trade deficit with Mexico for this year.

President Donald Trump issued an executive order on Dec. 20 to reduce U.S. “vulnerability” to disruptions in the supply of critical minerals, and direct the identification of new mineral sources and increased domestic exploration and mining, among other activities. The U.S. "is heavily reliant on imports of certain mineral commodities that are vital to the Nation’s security and economic prosperity," creating a military “strategic vulnerability” to “adverse” foreign action and natural disasters, the order says. “An increase in private‑sector domestic exploration, production, recycling, and reprocessing of critical minerals, and support for efforts to identify more commonly available technological alternatives to these minerals, will reduce our dependence on imports, preserve our leadership in technological innovation, support job creation, improve our national security and balance of trade, and enhance the technological superiority and readiness of our Armed Forces,” the order says.

President Donald Trump on Dec. 22, signed into law tax legislation that will cut excise taxes on beer, wine and distilled spirits in 2018 and 2019 (see 1712180033), as well as a continuing resolution that will keep the government funded and open through Jan. 19, the White House announced.

President Donald Trump’s National Security Strategy released Dec. 18 firmly links trade with overall U.S. strength, as the 55-page document repeatedly commits to combat unfair trade practices and pledges that the U.S. will work to improve the performance of multilateral organizations. The U.S. will “continue to play a leading role” in institutions including the World Trade Organization, the World Bank and International Monetary Fund, but will push “reforms” to boost their effectiveness, including pressing to make WTO dispute settlement more efficient, the strategy says. The document refers to U.S. “trade imbalances” several times, and insists trading partners and multilateral organizations can “do more” to address them and “adhere to and enforce the rules” of the international order. Finally, the document says new and updated bilateral trade and investment agreements are a priority for countries exhibiting “fair and reciprocal” trade.

President Donald Trump on Dec. 8 signed stopgap legislation to keep the federal government funded and open through Dec. 22. Congressional Democrats and Republicans, and Trump, are negotiating whether certain provisions should be added to a longer-term funding bill, including more hurricane disaster aid for Texas, Florida, and Puerto Rico.

President Donald Trump on Dec. 8, issued a memo to Small Business Administration Acting Chief Counsel for Advocacy Major Clark directing the delay of a required report submission to Congress on NAFTA’s small business impacts. The Trade Facilitation and Trade Enforcement Act generally requires the executive branch to submit to Congress a report on the economic impacts of a covered trade agreement no less than 180 days after a TFTEA-required interagency working group for that trade agreement is convened. However, TFTEA also allows the delay of the report’s submission until after negotiations are concluded, but no later than 45 days before the Senate or House “acts to approve or disapprove the trade agreement,” the memo says.

The U.S. has started admitting star apples from Vietnam, and Vietnam has started accepting dried grains from the U.S., according to a Nov. 12 joint statement issued after President Donald Trump’s visit to the country. Trump and Vietnamese President Tran Dai Quang “pledged to deepen and expand the bilateral trade and investment relationship between the United States and Vietnam through formal mechanisms, including the Trade and Investment Framework Agreement (TIFA),” the statement says. “They welcomed the return of market access for United States distillers dried grains into the Vietnamese market and new access for Vietnamese star apples into the United States market.”

The U.S. and the Philippines will discuss the possibility of a bilateral free trade agreement during U.S.-Philippines Trade and Investment Framework Agreement (TIFA) discussions, the two countries said in a Nov. 13 joint statement after President Donald Trump visited the Pacific island nation. “The United States welcomed the Philippines’ interest in a bilateral free trade agreement and both sides agreed to discuss the matter further through the United States-Philippines TIFA,” the statement says. TIFA talks continue to progress on areas including customs, labor, intellectual property and market access for agricultural products, the statement says.

Speaking alongside Chinese President Xi Jinping, President Donald Trump during at least three different occasions in Beijing on Nov. 9 suggested the U.S. has an unfair trade relationship with China and pledged to make it more reciprocal. “Both the United States and China will have a more prosperous future if we can achieve a level economic playing field. Right now, unfortunately, it is a very one-sided and unfair one. But I don't blame China,” Trump said during a business event with Xi, drawing applause from the crowd, according to a White House transcript of the speech. “After all, who can blame a country for being able to take advantage of another country for the benefit of its citizens? I give China great credit.” Before an expanded bilateral meeting with Xi, Trump said he has “great respect” for China getting ahead of the U.S. on trade, “because you’re representing China,” but added that it’s “too bad” past U.S. administrations “allowed it to get so far out of kilter.”