Published: Sat, April 14, 2018
World News | By Laverne Osborne

Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement

Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement

Japan's trade minister, Toshimitsu Motegi, warned that it would be hard to renegotiate, saying TPP is a well-balanced agreement based on the varying interests of the signatory nations.

One of the White House officials said that while the president prefers negotiating bilateral trade deals, a multilateral deal with the TPP countries would counter Chinese competition and would be faster than negotiating one-on-one with each of the 11 other nations.

Members of the 11-nation Trans-Pacific Partnership (TPP) trade agreement yesterday said they opposed any renegotiation of the deal to accommodate the USA should it decide to rejoin at a later date.

Republicans in Congress have also been skeptical of Trump's tendencies on trade, and 25 Republican senators sent a letter to Trump urging him to re-engage with the pact "so that the American people can prosper from the tremendous opportunities that these trading partners bring".

"I'm concerned that some USA positions around labor standards, environmental standards and intellectual property protections, we may not get as much as we want in the agreement now if we would have if we stayed in the negotiations and not be seen as a fickle partner", Bauerle-Danzman says. Mr Trump's Democratic rival in the 2016 election, Hillary Clinton, also came out against the agreement during the campaign.

The deal, negotiated by the Obama administration, was largely intended as a tool to prod China into making economic changes that the USA and others have long wanted. Even as officials in other countries expressed skepticism Friday, they said they would like to hear what Washington has to offer. Though, in January, he seemed to be more willing to abruptly reverse his stance on an agreement he once called a "rape of our country". That's what it is, too.

But rejoining it could be a complex task.

And the USA still has plenty of economic pull to lure the TPP nations back to the table. Taro Aso, Japan's finance minister and deputy prime minister said that "if the news is true, we would welcome it".

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At the same time, the President will not allow farmers to bear the brunt of the trade dispute with China.

I don't know. I do know that rejoining the TPP would be quite complicated.

A plurality of Democrats have indicated that President Donald Trump-not his predecessor Barack Obama-is responsible for the current state of the country's economy, a tonal shift from earlier this year when top members of the party argued the economic conditions were still due to former President Barack Obama.

New Zealand's liberal government, voted into power past year, has been more cautious about the deal than the previous conservative government.

The risk of an escalating trade war with China has panicked American farmers and ranchers, who send many of their products overseas.

Today, President Trump is announcing that the Administration has finalized technical requirements to allow the export of USA pork to Argentina for the first time since 1992.

When President Trump announced the United States' withdrawal from TPP, AFBF President Zippy Duvall encouraged the White House to continue to expand export opportunities for farmers and ranchers. It's possible to be a free trader and still believe that a particular deal should be rejected.

Syrian state media said the country's "air defenses shot down 13 missiles south of Damascus", NPR's Ruth Sherlock reports from Beirut. Trade advisers say the department could use a program known as the Commodity Credit purchase potentially billions of dollars of crops from American farmers harmed by tariffs.

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