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Trump considers rejoining TPP

Trump considers rejoining TPP

US President Donald Trump has ordered top administration officials to "negotiate entry" back into the Trans-Pacific Partnership (TPP) agreement, the deal he pulled out of a year ago, describing it as a "horrible" one. "It brings more of a multi-lateral approach as we look to isolate the problems we're facing with China as it relates to imbalances in trade and the theft of intellectual property". "This is done by wealthy people that want to take advantage of us and that want to sign another partnership", Trump said at the time.

He said that at one point in the discussion, the president looked at Kudlow and said, "Go get it done".

This is not the first time Trump has suggested United States participation in TPP could be back on the table.

The president has mused publicly about rejoining the deal before, suggesting he would re-enter if he could negotiate more favorable terms. The Pacific Rim trade deal was intended by the Obama administration as a way to counter China's influence, but Trump criticized the pact as a candidate and pulled the United States out of the pact in early 2017.

Tony Finau hurts himself celebrating hole-in-one
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The administration is also considering the possibility of the federal government aiding farmers harmed by retaliatory tariffs from China, according to lawmakers on Capitol Hill and advocacy groups. He said it's time to work with a coalition of trading partners to increase pressure on China. Last month, the 11 remaining countries signed an agreement in Chile, though it still has to be ratified by local officials in some countries.

The president is also running into strong pushback from Republican lawmakers, particularly those representing agricultural regions where China's threatened retaliation against US exports would hit hard.

Hoeven said the meeting with Trump was a "very positive" meeting about opening up more markets to "free" and "fair" trade. Deb Fischer, said the farm-state members were excited by the president's TPP talk because of a chance "to see those trade opportunities reaffirmed and grow". Farm state lawmakers have pushed for greater sales of the higher ethanol blend to boost demand for the corn-based fuel.

Exporters, such as farmers, have said they are now concerned that the USA will be at a disadvantage to competitors in the region. Trump campaigned on promises to bring down America's massive trade deficit - $566 billion USA past year - by rewriting trade agreements and cracking down on what he called abusive practices by U.S. trading partners.

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