White House Explains Trump's Reversal on TPP

15 April, 2018, 00:24 | Author: Dustin Murphy
  • Media Trump considering return to TPP

According to the International Monetary Fund, America traded $1.5 trillion with the 11 TPP countries in 2017.

US Trade Representative Robert Lighthizer and his new chief economic adviser, Larry Kudlow, are examining whether a better deal could be negotiated involving America, after Mr Trump pulled his nation out previous year.

"We welcome the U.S. coming back to the table but I don't see any wholesale appetite for any material re-negotiation of the TPP-11", Australia Trade Minister Steven Ciobo said Friday.

Ministers from Japan, Australia and Malaysia had welcomed President Donald Trump directing officials to explore returning to the TPP, but they also cautioned against making any significant changes.

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. In order for the U.S.to re-enter, the countries may need to start negotiations from scratch, and it is unclear what, if any, conditions they would set in order for that to happen. He has not said precisely what provisions he would want changed.

"We already have BILATERAL deals with six of the eleven nations in TPP, and are working to make a deal with the biggest of those nations, Japan, who has hit us hard on trade for years", the president tweeted. She says mixed signals from the administration could cause problems.


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". And now it's $500 billion in deficits and a theft of $300 billion in intellectual property.

Trump withdrew the United States from the TPP during his first week in office.

An early test of the potential for the United States to rejoin could come as soon as next week, when Shinzo Abe, Japan's prime minister and an ardent champion of the pact, is to meet with Trump at his Mar-a-Lago resort in Palm Beach, Florida.

The news drew a rebuke from opponents of the multilateral trade pact.

The 11 remaining nations represent 13 percent of global output and include Japan and Canada. The remaining countries, like Japan, moved ahead without the USA, and spent months renegotiating a pact before finally agreeing to a sweeping multinational deal this year.

"Last year, the President kept his promise to end the TPP deal negotiated by the Obama Administration because it was unfair to American workers and farmers", White House Deputy Press Secretary Lindsay Walters said Thursday afternoon.

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