US to take another look at Pacific trade pact that Trump quashed

13 April, 2018, 07:29 | Author: Clarence Schmidt
  • President Donald Trump reading the executive order withdrawing the US from the Trans Pacific Partnership prior to signing it in the Oval Office

Farm-state lawmakers said after a White House meeting on agricultural trade that Trump told his economic adviser, Larry Kudlow, and U.S. Trade Representative Robert Lighthizer to weigh the benefits of re-entering the Trans-Pacific Partnership - a deal struck by the Obama administration. Government spokesman Yoshihide Suga in Tokyo said Japan welcomes the request if it means Trump recognizes the significance of the pact.

Kansas Sen. Pat Roberts, the chairman of the Senate Agriculture, Nutrition and Forestry Committee, said he was "very impressed" that Trump had assigned Kudlow and Lighthizer "the task to see if we couldn't take another look at TPP". "To that end, he has asked Amb". The same old trade agreements are the wrong path forward for the American people and we demand a new trade model for agreements going forward. "As I have said, the United States is prepared to negotiate mutually beneficial, bilateral trade agreements with all countries".

While Republicans have been pressing Trump to retreat, Democrats have been cheering his tough stance on trade and viewed a reversal on TPP as a setback. "Undoubtedly, a TPP that includes the US would be stronger and more formidable than one that does not".

Trump withdrew the US from the accord during his first week in office.

Early Friday, Japanese Finance Minister Taro Aso said he would welcome a move by the United States to rejoin the TPP. Trump spent the 2016 presidential campaign ripping into the multi-national pact, saying he could get a better deal for US businesses by negotiating one-on-one with countries in the Pacific Rim.

It's unclear how willing the other 11 countries would be to reopen the agreement and make concessions to lure the United States back, though its economic power would likely be an appeal. Trump did not say when this conversation with Xi took place.


Kennedy says what was presented as a tariff on foreign steel has effectively become a tax on US manufactures such as his company.

Trump said Thursday "we're having some great discussions" with China and that he believes the outcome will be "tariffs off and the barriers down".

Talks between the world's biggest economies broke down last week after the Trump administration demanded steps to curtail China's support for high-technology industries, a person familiar with the situation said. The U.S. has accused China of unfairly subsidizing targeted sectors and forcing foreign companies to transfer technology in areas like robotics, aerospace and artificial intelligence. The administration is also expected to release a separate list for additional proposed tariffs covering $100 billion in imports from China.

During opening statements at Thursday's meeting before he shooed out reporters, Trump assured the lawmakers that he intends to negotiate better trade deals for the American farmer in the face of threatened new Chinese tariffs and contentious negotiations with Canada and Mexico.

An agreement could be completed within a few weeks or five months, he said, adding "I don't care".

And while President Xi Jinping hinted that he may be willing to concede of some of Trump's demands, USA farmers remain on edge over worries of potential tariffs on American agricultural imports.

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