On November 14, 2017, as he finished his comprehensive, two-week, five-nation tour of Asia, Trump proclaimed his visit a 'tremendous success.' Trump said much had been accomplished on the subject of trade, and that he had sent a very clear message to other nations that the U.S. would demand improved trading conditions.
Trump's tour included stops in the Japan, South Korea, China, Vietnam, and the Philippines.
In Japan, Trump negotiated with PM Shinzo Abe. The U.S. has a $69 trade deficit with Japan due to high levels of American imports of cars and electronics and insufficient exports to Japan. Trump has claimed that Japan has been 'winning' for years, and sought to make trade more 'fair.'
Since Trump withdrew from the Trans-Pacific Partnership trade deal, the U.S. and Japan have had an open economic dialogue between VP Mike Pence and Japanese Deputy PM Taro Aso. These negotiations have focused on currency and trade. The U.S. in these negotiations has tried to lower agricultural tariffs, ease restrictions on sales of American cars in Japan, and lift a "safeguard mechanism" on imports that caused the Japanese to increase their tariffs on American frozen beef, which in turn caused a large decline in imports in the past year. Although Trump seemed to believe he struck excellent deals during his visit to Japan, Abe insisted during Trump's visit that all economic issues would be addressed in the separate TPP talks.
Trump also pressured Japan to buy U.S. military equipment both to level the trade playing field and to help Japan protect itself from North Korean threats, though Japan has already been a purchaser of U.S. equipment and subsequent reports suggest Japan is likely to stick to their original defense procurement plans.
In South Korea, Trump urged South Korean trade negotiators to come up with a "better deal" than the current pact, the U.S.-Korea Free Trade Agreement, which he has previously criticized, and similarly urged South Korea to buy U.S. military equipment to deter North Korea.
In China, Trump managed to make several deals, mostly non-binding MOUs that could take years to materialize, including plans for China to import American products such as liquid gas, tires, and beef. Though Trump had hoped to pressure President Xi Jinping to introduce a more competition through instilling a market-oriented economy, little progress was made on this front.
In Vietnam, Trump assured President Tran Dai Quang that he looked forward to a "fair and reciprocal" two-way trade, although there is trade deficit in Vietnam's favor.
In the Philippines, Trump accepted a proposal from the Philippines to open exploratory discussions on bilateral free trade agreement.
Aside from trade, one of the priorities of the visit included the North Korean missile and nuclear programs. Trump reassured Tokyo and Seoul, while also maneuvering for increased Chinese support in pressuring North Korea into abandoning its nuclear program.
- https://www.bloomberg.com/news/articles/2017-11-02/north-korea-trade-business-deals-high-asia-stakes-for-trump
- http://www.philstar.com/business/2017/11/14/1758579/trump-open-free-trade-talks-philippines
- https://www.forbes.com/sites/ralphjennings/2017/11/12/vietnam-is-the-biggest-winner-in-trumps-tour-of-asia/#1db28b8d7021
- https://www.npr.org/sections/parallels/2017/11/09/562819505/in-trumps-china-visit-plenty-of-business-deals-but-little-progress-on-trade
- https://www.marketwatch.com/story/trump-pushes-for-fair-bilateral-trade-deal-with-japan-2017-11-05
- https://www.nytimes.com/2017/11/10/us/politics/fact-check-trump-asia-deals.html?_r=0