Trump Pivots on TPP, but the Footwear Industry Has 'Seen This Before'
- Author: Leroy Wright Apr 15, 2018,
Apr 15, 2018, 21:08
HOLLEYMAN: I think that's unlikely to happen because he really has this twinfold (ph) problem of having to not only convince the 11 countries who have lost faith in the United States and our ability to negotiate, but he has to negotiate with the U.S. Congress on what it would take to get back in. Sasse said. "It is good news that today the President directed Larry Kudlow and Ambassador (Robert) Lighthizer to negotiate USA entry into T.P.P".
In this light, the Trump administration hopes to get a better deal with the TPP, as Pacific Rim nations, which are highly exposed to trade with China, appear to be concerned with the possible trade disruptions and other spillovers of the US-Chinese dispute.
Senator Ben Sasse, a Republican from Nebraska who was present at Trump's meeting on Thursday, said. Aso added that the facts needed to be verified.
Building on that success, the Trump Administration reached agreements opening Vietnam to distillers dried grains for the first time since 2016, Japan to Idaho chipping potatoes for the first time in 11 years, and Korea to poultry for the first time since 2014.
"But what I am saying is I can't see us unpicking all the stitching that brought this deal together to accommodate the USA at this point". 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 USA fought hardest to get.
But his trade strategy is under fire as a conflict escalates with China.
The apparent decision comes after the 11 other TPP countries went ahead last month and signed the pact in Santiago, Chile - without the United States.
Throughout his presidency, President Trump has called for better treatment of America's farmers.
Trade experts believe Trump is probably trying to placate his political base in the wake of criticism over the US-China China tariff standoff.
"Putting it simply, joining T.P.P.is the best way to avoid a potentially devastating loss of wheat sales to Japan", said Michael Miller, chairman of U.S. Wheat Associates and a wheat farmer from Ritzville, Wash.
"I want to emphasize that these strikes are directed at the Syrian regime", he said.
It did not take long for local politicians to react.
Even before Trump's official withdrawal past year, US participation in the pact was seen as increasingly unlikely due to opposition in the US Congress.
Earlier that day, Japan, the biggest economy now covered by the agreement, welcomed Trump's interest in rejoining the TPP but claimed it was not interested in any partial renegotiation. "The U.S. standard is 75 years, and the other countries accepted the U.S.in the TPP, but now they've reversed to the standard 50". It could be a way to assuage American farmers and businesses hurt by Chinese tariffs by assuring robust markets for US products in countries that signed onto the deal, like Japan, Australia and South Korea.
"We have to make some further decisions", he told reporters. That could pose a challenge to the White House because these members may resist any USA -endorsed changes at this stage of the process. The 11-member pact includes Mexico and Canada, which are in the process of re-negotiating the terms of the North American Free Trade Agreement with the United States.
Australia's trade minister, Steven Ciobo, said that with a deal already in place, he "can't see that all being thrown open to appease the United States".
Japan's top government spokesman, Yoshihide Suga, said on Friday that Tokyo would "welcome it if the president's remark was a recognition of the TPP's significance and effect".