As trade consultations between the Philippines and the US continue, in the hope of cementing a possible free trade agreement (FTA), questions are still afloat on whether the Philippines stands to gain from this deal. At first glance, the pursuit of an FTA is desirable for the Philippines. There are strong trade complementarities between the two countries that are likely to be strengthened with an FTA. Indeed, the positive economic gains are plenty but admittedly, the stakes are also high for the Philippines. This issue of the DRN features the PASCN research on the RP-US FTA, an overview of which is discussed in this banner article.