Trump wants back into Pacific trade deal, say GOP senators

15 April, 2018, 01:33 | Author: Angel Logan
  • AP  Shizuo Kambayashi

The two countries ultimately might end up levying no new tariffs on each other, he said.

"The best thing the United States can do to push back against Chinese cheating now is to lead the other 11 Pacific nations that believe in free trade and the rule of law, " he said.

Mr Michael Miller, chairman of US Wheat Associates and a farmer in Washington, said rejoining the deal would allow his industry to compete on a level playing field with competitors in Australia and Canada, which both stayed in the accord.

President Trump has reportedly asked his economic and trade teams to investigate the possibility of rejoining the Trans-Pacific Partnership, a 12-country trade agreement Trump pulled the US out of in the first week of his presidency in January 2017. He has previously said he might reconsider the deal.

Trump tweets that he would only rejoin the agreement if it's renegotiated to become substantially better for the U.S. "I think they want to". She says mixed signals from the administration could cause problems. But, that also depends on how the negotiations move forward.

US Senator Ben Sasse, a 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". And now it's $500 billion in deficits and a theft of $300 billion in intellectual property. For instance, ranchers in Australia can send beef to Japan more cheaply than ranchers in the US.

The TPP, a trade deal that was to involve 12 countries including the United States, was conceived under former President Barack Obama as a way to counter China's surging power in the region.

Trump withdrew the U.S. from the TPP during his first week in office.

Farm-state lawmakers said Thursday after a White House meeting with Trump that he had given that assignment to his trade representative, Robert Lighthizer, and his new chief economic adviser, Larry Kudlow. Ratification of the CPTPP is expected this spring, and the trade partners could consider adding new members not long after.

"TPP would address so many issues, such as environmental, worker rights, public procurement, trade unions", Hauskrecht says.

"It's hard to bring part of the pact and renegotiate it", he said, calling it a "well-balanced pact" that carefully addressed the needs of the current 11 member nations.

The Trans-Pacific Partnership is created to open up free trade between the countries involved, making them less reliant on China.

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.

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