ASEAN has already contemplated the idea of
multilateraliz AFTA cuts (discussed above), which would essentially have the effect of
harmonizing tariffs at very low levels. No doubt, ASEAN will likely discover that, without
an extremely liberal CET, it will have to consider the ‘‘10-X’’ strategy, to the considerable
detriment of the creation of the AEC, and will have to accept a ceiling on what can be
achieved in the AEC.