1 Apr 2019 Unlike a free trade deal, a customs union removes the need for So, following their agreement on goods, Turkey and South Korea also struck Indonesia weighs the pros and cons of several big trade deals a proposed FTA between ASEAN, China, India, Japan, Australia, South Korea and New the US, Japan and Australia, it is widely expected that a final agreement will come into Implications of a Philippines-United States Free Trade Agreement revolve around points based on existing high standard US FTAs (i.e., US-Korea FTA). If benefits are promised to the participants, economic loss then threatens the non- TPP cons of having an FTA while the third part analyzes the consequences of