Monday, 16 July, 2018

Trans-Pacific Partnership Members Skeptical of Trump's Potential Re-Entry

US President Donald Trump's heaviest tariffs on goods from China where shipping containers are US President Donald Trump's heaviest tariffs on goods from China where shipping containers are
Deanna Wagner | 15 April, 2018, 01:08

Many American agriculturalists maintain that the easiest way to help them is to avoid a trade war with China in the first place.

Officials in Japan, Australia and New Zealand reacted coolly Friday to Trump's remarks that he would be interested in joining the Trans-Pacific Partnership after rejecting it so publicly just a year ago. "So, the United States would have the ability to influence this important alliance". "You'd need a whole renegotiation".

"Now we're really negotiating and I think they're going to treat us really fairly", Trump said during a White House meeting with US Republican governors and lawmakers from farm states.

Heated discussions concerning possible re-negotiations of TPP are expected to bubble up during Japanese Prime Minister Shinzo Abe's upcoming working visit to Mar-a-Lago resort on April 17. "The President has consistently said he would be open to a substantially better deal".

Lawmakers on Capitol Hill have been renewing their pitches for the pact - rather than Trump's threats of steep tariffs on steel and other products - as a way to counter China on trade. Sen. Trump has warned that he could levy tariffs on $150 billion in Chinese goods, prompting Beijing to threaten retaliatory measures aimed at American soybeans, airplanes and other products. Ratification of the CPTPP is expected this spring, and the trade partners could consider adding new members not long after.

The risk of an escalating trade war with China has panicked American farmers and ranchers, who send many of their products overseas.

For a deal Trump once called "the death blow for American manufacturing", it's unlikely the newly signed agreement will be more to his liking.

US Secretary of Commerce Wilbur Ross shown at a business summit in Peru says he is vastly outpacing the Obama administration's anti-dumping and countervailing duty cases
Trans-Pacific Partnership Members Skeptical of Trump's Potential Re-Entry

"Republicans should not be giving Obama fast-track authority on trade. 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".

But when 11 remaining countries inked the final deal - now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - in March, the agreement lacked numerous provisions US negotiators had long argued to see included.

The barriers to a new pact are considerable.

"I'm sure there are lots of particulars that they'd want to negotiate, but the president multiple times reaffirmed in general to all of us and looked right at Larry Kudlow and said, 'Larry, go get it done,"' said Sen.

For its part, the Trump administration worries that the partnership will become a zero-tariff backdoor for Chinese goods into the US market.

Yesterday President Trump made major news after telling his National Economic Advisor Larry Kudlow to explore ways the United States could reenter the Trans-Pacific Partnership as a way to blunt China's economic ambitions.

Chuck McCann, legendary comic and WPIX personality, dead at 83: friends
He credited his fame to NY kids' show host Sandy Becker who gave him his big break in the mid-1950s when the two worked together. He starred in the critically-acclaimed 1968 film The Heart Is a Lonely Hunter and the 1970 comedy film The Projectionist .