Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement

Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement

Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement

But when 11 remaining countries inked the final deal - now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - in March, the agreement lacked numerous provisions USA negotiators had long argued to see included.

Friday morning, President Trump expanded on the conditions for getting back into TPP.

President Donald Trump at a White House meeting Thursday during which he reportedly expressed interest in the USA rejoining the Trans-Pacific Partnership trade agreement. The President will take strong action to confront those countries who do not treat us fairly and work to get a better deal for American exports.

New Zealand remains wary of President Donald Trump's apparent U-turn on a Pacific trade deal, after Trump said the considering rejoining an 11-nation trade pact it earlier withdrew from.

Rejoining the pact could be a significant change in fortune for many United States industries that stood to benefit from the trade accord and for Republican lawmakers who backed it.

The pact includes Mexico and Canada, which are in the process of renegotiating the terms of the North American Free Trade Agreement with the United States.

Toshimitsu Motegi, Japan's minister in charge of TPP, also said it would be hard to change the deal, calling it a "balanced one, like fine glassware".

Trump's renewed interest in the pact depends on whether the United States could strike a better deal than President Barack Obama did, Trump said in a Thursday night tweet.

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In remarks on Thursday he also expressed optimism about a deal with China, a week after escalating tensions with his threat to impose tariffs on an additional US$100 billion in Chinese products. "I think they want to".

Secondly, in domestic interests, President Trump will have to negotiate with the U.S. Congress. For instance, ranchers in Australia can send beef to Japan more cheaply than ranchers in the US.

"But, for Malaysia, we have gone very far in the negotiations and that is the maximum that we can go".

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". Rejoining the trade pact would open up some strict Asian markets to US auto exports, provide patent protection for USA drugmakers and reduce regulations on some big tech companies such as Google and Uber, he added. AFL-CIO President Richard Trumka, head of the main trade union group, said on Twitter that TPP "was killed because it failed America's workers and it should remain dead".

A spokeswoman for Singapore's Ministry of Trade and Industry appeared similarly open to the USA rejoining, noting that the TPP was "designed to be an inclusive agreement, which is open to like-minded countries willing and able to meet its high standards".

"You'd need a whole renegotiation", he said.

Japan, Australia and New Zealand reacted cautiously Friday after President Donald Trump signaled he might reopen talks on a Pacific Rim trade deal that he pulled the USA out of shortly after taking office.

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