US Economic Policy in the Asia-Pacific Post-TPP
By Hugo Seymour from Perth USAsia Centre | 29 Aug 2017
Mr Matthew P. Goodman was hosted by the Perth USAsia Centre for a private roundtable discussion on U.S. Economic Policy in the Asia-Pacific, post-Trans-Pacific Partnership (TPP). Mr Goodman is the Senior Adviser for Asian Economics and holds the William E. Simon Chair in Political Economy at the U.S. Centre for Strategic and International Studies (CSIS).
- The Trump administration is not reflective of the long-term interests held in the US towards the Asia-Pacific region. In the long-term, the US remains deeply committed to the economic interests in the Asia-Pacific region and the US - Australia alliance is very strong on all fronts. In the short-term, however, we're in a position of some turmoil and uncertainty in the US.
- Despite efforts by the previous Obama administration with the Trans-Pacific Partnership (TPP), President Trump has withdrawn and altered the approach of US economic engagement in the region. TPP had been the organising principle of the Obama Administration's economic engagement in the Asia-Pacific region. The Trump Administration has withdrawn from TPP and expressed a preference for bilateral trade agreements and threatened to close the U.S. market if trading partners do not take steps to reduce trade imbalances. Mr Goodman examined the impact of these policy positions on U.S. economic engagement in the Asia Pacific.
- It is in the US national interest for President Trump to engage in the upcoming economic regional forums, particularly the Asia-Pacific Economic Cooperation Leaders Meeting in Vietnam in November. The APEC Forum and others offers an important opportunity for President Trump to engage with his counterparts and openly discuss economic engagement in the region.
Hugo Seymour is a Research and Program Assistant at the Perth USAsia Centre
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