Trump Won't Rejoin Renegotiated TPP

19 Abril, 2018, 00:59 | Author: Kelly Blake
  • Credit Wikipedia

White House economic adviser Larry Kudlow suggested to reporters that the U.S. would like to negotiate a bilateral free trade deal with Japan.

On Tuesday, Trump tweeted that he doesn't "like" the Trans-Pacific Partnership free trade pact, which he withdrew the United States from soon after taking office. Bilateral deals are more efficient, profitiable and better for OUR workers.

Former Undersecretary of State Bob Hormats said on Tuesday that the Trans-Pacific Partnership (TPP) was never intended to contain China, but meant to establish rules that were conducive to USA market conditions. According to Obama, this would put millions of jobs across the United States at risk.

Last year, when Trump withdrew from the Trans-Pacific Partnership, he proposed a bilateral trade deal with Japan in its place.

The Trans-Pacific Partnership is created to open up free trade between the countries involved, making them less reliant on China. "Look how bad WTO is to United States", he said referring to the World Trade Organisation. Even as officials in other countries expressed skepticism Friday, they said they would like to hear what Washington has to offer.

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With South Korea, Thailand, and Indonesia also having shown "strong interest" in the TPP, Turnbull said he is hopeful that other nations will additionally join the trade pact in future.

No doubt there will be those who will see the Trump administration's incoherency in a rosy light-namely, with the many irrational actions of the Trump administration to date, there is sometimes the conflation of madness with genius.

New Zealand Prime Minister Jacinda Ardern had warned America if they wanted back in the agreement would have to be renegotiated, as White House Economic Adviser Larry Kudlow claimed the United States was yet to be convinced of the merits of joining the TPP.

While rejoining the pact would please some Republicans, it would have been a significant breach of a campaign promise and an embrace of a policy that the president has described as a "rape of our country".

On Tuesday, President Trump announced that he would not rejoin the Trans Pacific Partnership (TPP). However, he cautioned that the USA would do so only if it could cut a much better deal.

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