12 hrs ago
Rubio Says Free Trade Agreements Unlikely to Return Soon
Marco Rubio said the United States probably will not make many new free trade agreements for now.
He made the comments during a visit to Reykjavik, Iceland.
He said this was a general view and was not aimed specifically at Iceland.
Rubio said the United States and Iceland could instead work on a two-country trade arrangement based on reciprocity.
Meetings about that kind of cooperation were already being organised.
He also said businesses could find opportunities in areas such as pharmaceuticals and biotechnology.
The United States wants to help businesses from both countries connect and explore investment.
Rubio said stronger business ties could benefit both countries.
US Secretary of State Marco Rubio said free trade agreements are unlikely to return for the foreseeable future.
Rubio made the remarks in Reykjavik while discussing a possible US-Iceland trade agreement.
He said bilateral arrangements based on reciprocal trade offer a more viable path.
Meetings to pursue trade cooperation between the United States and Iceland were already being organised.
Rubio highlighted potential cooperation in pharmaceuticals and biotechnology, alongside investment and business visits.
- Who
- US Secretary of State Marco Rubio and Icelandic Foreign Minister Thorgerdur Katrin Gunnarsdottir.
- What
- Rubio said free trade agreements are unlikely to return soon and pointed to reciprocal bilateral trade arrangements as an alternative.
- Where
- Reykjavik, Iceland.
- When
- During Rubio's visit to Iceland; no date is specified.
- Why
- Rubio described bilateral reciprocal trade as a more viable way to expand economic ties and business opportunities.
Key facts
- US official
- Marco Rubio, US Secretary of State
- Icelandic official
- Thorgerdur Katrin Gunnarsdottir, Icelandic Foreign Minister
- Location
- Reykjavik, Iceland
- Rubio's assessment
- Free trade agreements are unlikely to return for the foreseeable future.
- Alternative discussed
- Bilateral trade arrangements based on reciprocity
- Potential cooperation sectors
- Pharmaceuticals and biotechnology
- Business engagement
- Meetings were being organised, and Rubio said the governments and embassies could help connect businesses and investors.
Quotes
Marco Rubio
US Secretary of State
“As far as free trade agreements are concerned, look, I think the era of free trade agreements for the foreseeable future is probably not going to be there.”
thehansindia.com
“Where I do think we have real opportunities is a bilateral trade agreement, bilateral trade, a reciprocal trade understanding between our countries.”
thehansindia.com
Sources
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