Published: Fri, April 13, 2018
Global Media | By Garry Long

Trump asks advisors to study USA re-entering trans-Pacific trade deal negotiations

Trump asks advisors to study USA re-entering trans-Pacific trade deal negotiations

Farm state lawmakers say President Donald Trump has asked top administration officials to look into rejoining talks on the Trans-Pacific Partnership, from which the USA withdrew previous year.

The deal was signed in March by twelve Pacific countries including New Zealand. "That's really good news for America", said the Nebraska Republican.

The remarks sent another conciliatory signal the administration has been sending this week on a trade war of words that's rattled markets.

"Trump talks tough on trade, but the reality is that since he has been president our trade deficits with China and Mexico have gone up by more than $35 billion". The president assigned his top trade advisers, U.S. Trade Representative Robert Lighthizer and his new chief economic adviser, Larry Kudlow, "to take another look at whether or not a better deal could be negotiated".

Update: Evidently Trump "looked at Kudlow and said "go get it done" on TPP. "Undoubtedly, a TPP that includes the USA would be stronger and more formidable than one that does not". The Asian nation said listed USA soybeans and pork among its prime targets for proposed retaliatory duties. The deal, which covers Pacific-rim countries in Asia and the Americas, was conceived as a counterbalance to China.

On Thursday, Trump provided no clues of how the USA would proceed on CPTPP-or on NAFTA.

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In his remarks on Thursday, Trump cited a speech by Chinese President Xi Jinping that the USA president interprets as a signal China is about to open its markets to more US goods. Some signatories, however, agreed to rework it without the United States and it re-emerged this January under the name, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Sasse isn't sure whether Trump would actually reverse on the trade deal, but Politico reports that the president is hearing advice to reconsider the deal.

The president says China has consistently treated USA agriculture unfairly and his administration is "changing things with respect to trade". "Also, his enlightenment on intellectual property and technology transfers". 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. It may have been bad for the United States or good.

Trump is seeking to reassure the lawmakers on proposed China tariffs.

Roberts said he was "very impressed" that Trump instructed both Kudlow and Robert Lighthizer to explore the idea of rejoining TPP.

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

"I have to believe President Xi is smiling all the way to regional domination as a result of our pulling out of TPP".

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