trade deals

Asian Trip Highlights Lack of Trade Deals with America

Dan Industry News Release, Trade

trade dealsPresident Donald Trump is on a trip to Asian countries this week.

Politico Dot Com says he’s likely to be looking for new trade deals, but many of the countries he’s traveling through don’t want to negotiate a two-way deal with the U.S.

Trump and Chinese President Xi Jinping celebrated new deals on Wednesday as Commerce Secretary Wilbur Ross brought along a contingent of people from 30 different American companies. Xi may also announce possible advancements in policy areas like investments and drug approvals.

Trump is also talking about potential arms sales to Japan and South Korea. However, by pulling out of the Trans-Pacific Partnership on his third day in office, the president said no to deals with countries like Japan, the third-largest economy in the world, as well as Vietnam, which is one of the fastest-growing economies in the world.

Though Trump has said he wants to negotiate bilateral deals with Asian countries, he hasn’t been able to persuade one to get started on the process.

Politico says Trump’s “America-first” trade policy risks putting the U.S. in a weaker position as other countries get together to negotiate trade deals without American involvement.

From the National Association of Farm Broadcasting News Service.