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Home / World / Trump, in another reversal, says Trans-Pacific Trade Pact has "too many contingencies"

Trump, in another reversal, says Trans-Pacific Trade Pact has "too many contingencies"



The statement comes when Mr. Trump has held talks with South Korea about peace talks with North Korea and President Shinzo Abe receives from Japan in Mar-a-Lago where they should discuss trade other issues

Trump He withdrew from the Trans-Pacific Partnership last year and instead proposed a bilateral trade agreement with Japan. However, Japan's Deputy Prime Minister Taro Aso ruled out this possibility in March, saying that such a hearing would cause unnecessary pain for Japan.

Instead, Japan made a deal with the remaining 11 members of the agreement they reached last month. Japan claims this agreement is still fragile, and the negotiation of another pact with the United States could jeopardize its success.

Japan has stated that it would only be ready to conclude a single agreement if it would serve as a bridge to the United States, re-entering the Trans-Pacific Partnership.

Other countries were also cool on the idea of ​​giving the United States a bottom after overhauling the deal for months after Trump's resignation. 19659006] But discussions about the pact with the tribe wizards have added another dose of confusion to Trump's trade policy as fears grow that the Trump government is about to embark on a global trade war.

In recent weeks, Mr. Trump has revealed flat-rate tariffs on global imports of steel and aluminum, just to announce generous exemptions for several American allies. He also announced harsh tariffs on Chinese imports of up to $ 150 billion before his economic advisers suggested that this might have been a bargaining tactic.

After signing a new bilateral trade agreement with South Korea last month, Trump suggested he could endure a better deal on the street.

And Mr. Trump regularly thinks about ending the North American Free Trade Agreement, even if his advisers publicly state that the negotiations with Canada and Mexico are moving in a positive direction.

The mixed signals have put the President's economic advisers in an embarrassing position and raised the hopes of many Republicans in Congress who were optimistic that he would seek ways to ease trade tensions. Farmers and business groups feared that retaliatory measures from other trading countries could undermine the recent strength in the economy.

"This whole trading theme has exploded," Larry Kudlow, director of the White House's National Economic Council, said last week, explaining that he is teaming up to begin the renegotiation of TPP

While the pact is resuming would appeal to some republicans, this would be a major breach of electoral promises and policies that the President called "the rape of our country." For this reason, many of Mr. Trump's closest associates have tacitly downplayed the prospect of re-entry.

On Tuesday morning, Treasury Secretary Steven Mnuchin said that Mr. Trump made a "big announcement" this year, when he said he would consider joining the trade agreement, but warned that the United States would only do so If they could make a much better deal,

Asked about the United States' chances of rejoining the pact, Mr. Mnuchin asked, "I'm not going to hinder it," he said ] Continue reading the main story


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