Senators: Trump is reconsidering his stance on TPP trade deal

Carl Welch
01:13, Apr 13, 2018
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.

Last month, the other 11 countries that had originally joined the U.S.in the TPP announced their own agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which would offer similar economic benefits but would not include the United States.

Also on Thursday, Everett Eissenstat, deputy director of the National Economic Council, said while in London that re-entering a trans-Pacific trade agreement was "something that's of interest" if negotiations were satisfactory.

President Donald Trump instructed his top advisors to begin exploring how the US could join the Trans-Pacific Partnership (TPP) on Thursday, just one year after abandoning the trade pact he'd blasted throughout his presidential campaign as a "horrible deal" and a "disaster".

The deal was signed in March by twelve Pacific countries including New Zealand. The remaining countries still ratified a version of the TPP without the United States earlier this year.

Shortly after assuming the office, the United States president delivered on his campaign promise and pulled out of the deal, sending it into limbo.

Mr Trump says he is directing his advisors to look into the possibility of re-signing the deal in a bid to protect the agricultural sector which could be affected by a trade war with China. "The president heard unified voices that we need more trade, not less". "If we did a substantially better deal, I would be open to TPP".


"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", the White House said in a statement.

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

Trump signaled a possible reconsideration of the TPP back in January if its terms were more favorable. Sen Ron Johnson, R-Wis., was among a handful of senators who recently visited China to meet with government and business leaders there. Gasoline typically contains 10 percent ethanol.

The announcement was welcomed by lawmakers from some farming states. Farm state lawmakers fear that would reduce demand for the biofuels and violate the RFS law.

An array of business executives are expressing alarm to federal lawmakers Thursday about the impact that tariffs will have on their business.

Associated Press writers Catherine Lucey, Jill Colvin, Paul Wiseman and Matthew Daly in Washington and James MacPherson in Bismarck, North Dakota, contributed.

Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.


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