trump

Trump Says Re-entering TPP is “possible”

Dan Industry News Release, Trade

A Bloomberg report says President Trump would consider rejoining the Trans-Pacific Partnership if the U.S. could negotiate trumpmore favorable terms.

Trump made the announcement during a joint news conference with Australian Prime Minister Malcolm Turnbull last Friday. “TPP was a very bad deal for the United States,” said Trump. “There’s a possibility we could be going back in if offered better terms.” Turnbull was expected to encourage the president to renew talks on a Pacific trade pact. Trump has said in the past that he prefers bilateral trade deals over multi-nation trade pacts. He pointed to the trade deal between Australia and the U.S., calling it a “model” for other nations to follow.

A group of 25 Republican Senators sent a letter to Trump last Friday asking him to “re-engage with the Trans-Pacific Partnership.” The letter says, “We encourage you to work aggressively to secure the reforms needed that would allow the United States to rejoin the agreement. Increased economic engagement with the 11 nations currently in TPP would substantially improve the competitiveness of U.S. business, support millions of U.S. jobs, increase exports, increase wages, and benefit consumers.”

From the National Association of Farm Broadcasting News Service.