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Tim Ryan blasts Trump talk of rejoining Asian trade pact

14 April 2018

So why the apparent change of heart? With congressional elections later this year, he now faces pressure from some Republican lawmakers anxious that his protectionist policies could spiral into a trade war with China that would hit rural America.

And the US still has plenty of economic pull to lure the TPP nations back to the table.

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

"If it's true, I would welcome it", Japanese Finance Minister Taro Aso responded just hours after President Trump made his surprise statement Thursday.

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Larry Kudlow, Trump's newly appointed chief economic adviser, has been given the task of seeing if it's possible to rejoin the discussions on TPP. "And that certainly would be good news all throughout farm country". "That would keep United States wheat sales that now represent 50 percent of Japan's total wheat imports competitive in this crucial market".

In a surprising about face, President Donald Trump is apparently considering reversing one of his first decisions on trade - scuttling the Trans Pacific Partnership.

Senator Ben Sasse of Nebraska, who attended the meeting, says re-joining TPP is the "best thing" the USA can do to "push back" against China.

Trump criticised the TPP as a "horrible deal" and pulled the United States out of the pact in early 2017, saying bilateral deals offered better terms for USA businesses and workers. Experts say that will be tough now that the other countries have moved on.

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A commerce ministry spokesman said negotiations were impossible under "unilateral coercion" by President Donald Trump's government. "The US position is much weaker now".

U.S. Commerce Secretary Wilbur Ross said the administration needs to see concrete actions from China to reach a deal. "We're here to advocate for the industry - that's No. 1 - but we also are here to sift through some of the rhetoric and line that up with the reality", Priest said. Including the USA, the member countries represented approximately 40 percent of global trade.

Obama took the weak market and turned it completely around, and Obama did it with the Republicans saying they were going to make Obama a one-term president. This will include the countries in TPP, which are very important. "If the United States joins TPP, US wheat should be able to compete on a level playing field with Canadian and Australian wheat, which will soon have a major advantage once TPP is implemented". He warned that "it is extremely hard to take out one part and renegotiate", a point that was underscored by New Zealand.

"If the United States, it turns out, do genuinely wish to rejoin, that triggers a whole new process", she told reporters in Auckland. "It's not simply a matter of slotting into an existing deal".

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The TPP members, including Canada, Mexico and Japan, proceeded without the U.S. after Trump pulled out, and signed the sweeping new agreement last month. But Japan was committed to proceeding with the TPP in its current form, he said. One - one of the things they did is they stripped out of their new package some of the provisions, particularly around intellectual property rights, that the US fought hardest to get. He helped push for the TPP. "The opportunity has nearly certainly passed".

Tim Ryan blasts Trump talk of rejoining Asian trade pact