The US may have missed its chance to rejoin the TPP
15 April, 2018, 01:35 | Author: Orlando Hughes
"I'm concerned that some USA positions around labor standards, environmental standards and intellectual property protections, we may not get as much as we want in the agreement now if we would have if we stayed in the negotiations and not be seen as a fickle partner", Bauerle-Danzman says.
When President Trump ordered the USA withdrawal from TPP trade negotiations in January 2017, the deal was widely seen as catering to American interests, given that US negotiators helped shape the deal since 2008. He argued that the deals were terribly negotiated, ripping off the US and hurting American workers and manufacturing. "This is done by wealthy people that want to take advantage of us and that want to sign another partnership". "So, the United States would have the ability to influence this important alliance".
Some believe the president's about-face on the deal, as well as a quieting of his threats to withdraw from NAFTA, is fueled by complaints from Republican lawmakers that the impact of his harsh stance on trade and impending tariffs would harm farmers and businesses within their states.
Australia's ambassador in Washington, Joe Hockey, said his country would welcome the USA back into the pact, according to The Australian newspaper. Ron Johnson, R-Wis., was among a handful of senators who recently visited China to meet with government and business leaders there.
Japan and New Zealand reacted cautiously Friday after U.S. President Donald Trump signaled he might reopen talks on a Pacific Rim trade deal that he pulled the U.S. out of shortly after taking office.
Trump's decision to reconsider the deal comes as the White House tries to find ways to protect the agriculture sector, which could be badly damaged by the president's trade approach.
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Politicians, including some from his own party, are anxious that he is leading the U.S. into a damaging economic battle with China, after levying tariffs on steel and aluminium and threatening taxes on billions more in Chinese goods. "The US position is much weaker now".
Deputy White House press secretary Lindsay Walters pushed back on the notion that Mr Trump was reversing his promises. A trade war with China could be particularly devastating to rural economies, especially for pig farmers and soybean and corn growers.
As trade tensions with China escalate, President Donald Trump has found new appeal in a regional trade pact he once called a "rape of our country". Trade advisers say the department could use a program known as the Commodity Credit Corp.to purchase potentially billions of dollars of crops from American farmers harmed by tariffs.
The pact's members - including some of America's most stalwart allies - might not make it so easy to come back. They finalized a revised version of the trade pact last month, renaming it the Comprehensive and Progressive Agreement for Trans-Pacific Partnership or CPTPP.
On Thursday, Republican senators, congressmen and governors from Iowa, Nebraska, North Dakota, Kansas, Texas and other farming states met with the president to express their concerns.
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