Saturday, 18 August, 2018

Trump tweets dislike for TPP trade pact

President Trump’s ‘Team’ to Review TPP Agreement US revisits TPP participation
Glenn Montgomery | 20 April, 2018, 01:33

Last week, the White House announced that Trump had asked the United States foreign trade representative Robert Lighthizer and the economic adviser Larry Kudlow to "take another look at whether or not a better deal (with the TPP) could be negotiated".

Trump added that his primary concern at the moment is the "massive" trade deficit with Japan, which amounted to "from $69 billion to $100 billion a year".

Mr. Trump tweeted late Tuesday night that while other global partners like Japan and South Korea would "like" the U.S to re-join the TPP, "I don't like the deal for the United States". The deal, which was negotiated by President Barack Obama's administration, was largely viewed as a tool to prod China into making the type of economic changes that the United States and others have long wanted.

The trade agreement has received criticism from more US -based critics than just Trump as political theorist Noam Chomsky has said the deal propels neoliberalism and free market-based agendas that ultimately clamp down on workers' rights throughout the world.

U.S.'s participation in the Trans-Pacific Partnership is a no go-again. Trump had bragged during political rallies about killing the TPP deal because he felt the terms put the U.S.at a disadvantage in trade.

Trump meets with Japanese Prime Minister Shinzo Abe this week at Mar-a-Lago. I don't think he's medically unfit to be president.

"We're negotiating in what I really prefer is negotiating a one-on-one deal with Japan and that's where we are right now", he said.

China has since announced a series of retaliatory measures, while Trump has continually demanded that Beijing act to reduce its trade surplus with the United States. "I think he's morally unfit to be president".

Larry Kudlow, the White House economic adviser, earlier downplayed the possibility of the US rejoining.

Meanwhile, Trump continued with a shot at the World Trade Organization, which he said was "bad" to the United States.

Larry Kudlow said, "It has to be in USA interest for us to take another look and actually go into it".

Trump first disclosed his request last week to a group of lawmakers at a White House meeting on trade.

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