Lawmakers say Trump exploring rejoining Pacific trade talks
Lawmakers say Trump exploring rejoining Pacific trade talks
AP Shizuo Kambayashi
14 April, 2018, 22:17
In a surprise step, Trump asked his top trade advisers Thursday to take another look at TPP and whether a better deal could be negotiated. And foreign minister Taro Kono went further, saying that the USA rejoining "would be great news", but noted that the immediate priority is to bring the existing agreement into force as quickly as possible. With the extremist group largely defeated, the president says he supports the withdrawal of US forces. Do you think the politics right now on free trade are any more favorable than they were in 2016?
"When the US walked away, they dropped a lot our intellectual property provisions and labor provisions that made the agreement really important", he said.
"It is an agreement so delicate, like something made of glass", he said. The question is whether Trump is serious about rejoining the TPP or is just using the threat of doing so as a means of gaining leverage with the Chinese. One, national economic reasons, particularly agricultural interests, other interests of USA workers who want to have access to these fast-growing Asia-Pacific markets. Eswar Prasad, a trade expert at Cornell University, said it was hard to imagine that the United States would be "welcomed with open arms" by the current members or have much leverage in reshaping the deal.
Donald Trump and Hillary Clinton didn't agree on much during the 2016 campaign, but they did agree that the USA should not participate in the Trans-Pacific Partnership (TPP).
Senator Ben Sasse, Nebraska Republican who participated in a meeting with Trump on Thursday where he spoke about rejoining the deal, said: "He multiple times reaffirmed the point that TPP might be easier to join now". China's government has denied President Xi Jinping's promises this week to cut import tariffs on cars and open China's markets wider were intended as an overture to settle a tariff dispute with Washington.
Deborah Elms, executive director of the Asian Trade Centre in Singapore, wrote in a blog post that the original members of the TPP spent "5 long and painful years negotiating the deal only to be left at the altar" by the USA, adding that "no one is likely to be in any mood to consider new demands by the United States". And, experts say it could be good news for Indiana. The TPP was finalized in February 2016, but not ratified by the USA before Trump withdrew the United States' signature from the pact.
It was also supposed to include the US, but President Trump said it would hurt American workers and he withdrew this country from the pact. Trump has warned that he could levy tariffs on $150 billion in Chinese goods, prompting Beijing to threaten retaliatory measures aimed at American soybeans, airplanes and other products.
The proposal came during a White House meeting with lawmakers and governors after Sen.
The president says China has consistently treated US agriculture unfairly and his administration is "changing things with respect to trade". And then yesterday, he told a group of lawmakers that he was looking into rejoining the TPP.
Ministers from Japan, Australia and Malaysia welcomed President Donald Trump directing officials to explore returning to the Trans-Pacific Partnership, a pact he withdrew from shortly after coming to office. He also said there were "no reports of losses" on the part of the US and its allies.
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Setting up the trade deal took five years, and patching things up after the U.S.'s exit took one more year.
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