3 ms·
What does this mean in practice? They will not have tariffs on everything/some things? Does this cap tariffs? Does this uncap capital flows, especially crossing
by H8crilA 6y ago
What does this mean in practice? They will not have tariffs on everything/some things? Does this cap tariffs? Does this uncap capital flows, especially crossing the mainland China border? Does this cap FX exchange rates? Does this make establishing cross-border corporate structures easier? Is there protection for cross-border trade routes for physical goods? Is there deregulation in terms of online services (things like "we'll let you store our data")? Is there agreement on "quality of goods" for things like food or pharmaceuticals? etc.
The article explains nothing, other than saying "yeah they agreed on something".
- nabla9 6y agoIt's significantly less substantial than CPTPP is. There is little of harmonization except clarifying some rules of origin issues https://www.wto.org/english/tratop_e/roi_e/roi_info_e.htm https://www.wto.org/english/tratop_e/roi_e/roi_info_e.htm It contains some tariff removals. Tariffs have lost importance relative to other issues because they are already relatively low. The world has gone trough nine rounds of GATT and is on 10th. I think this signals that ASEAN countries are willing to play China and the US against each other in trade.