Trump, who withdrew from the Pacific trade pact days after assuming the presidency in January 2017, has proposed to re-join the agreement if the country gets a better deal than offered during Barack Obama’s administration.
Donald Trump on Friday in a tweet said that since the United States is already having a bilateral deal with six of the eleven nations in Pacific trade pact, he will join the deal if he gets a “substantially better” deal.
Donald Trump’s comments came after the White House announced that US Trade Representative Robert Lighthizer and top economic adviser Larry Kudlow were re-examining the position of the United States over this pact.
The Pacific trade pact is an agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and United States, which was signed but never ratified.
Would only join TPP if the deal were substantially better than the deal offered to Pres. Obama. We already have BILATERAL deals with six of the eleven nations in TPP, and are working to make a deal with the biggest of those nations, Japan, who has hit us hard on trade for years!
— Donald J. Trump (@realDonaldTrump) April 13, 2018
While there is not much development on the issue, AFP reported Japan welcoming the proposal. “If it’s true, I would welcome it,” Japanese Finance Minister Taro Aso told reporters after a cabinet meeting on Friday and before Trump’s tweet. Aso added that the facts needed to be verified. Trump “is a person who could change temperamentally, so he may say something different the next day”, Aso said.
Donald Trump since he assumed the presidency has been quitting out pacts which he claims to be unfair to the United States.
Last August, he decided to pull out of Paris Agreement while he kept the option of negotiations open. Currently, fears loom large over the possible trade war between the US and China.>