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Trump Proposes Rejoining Trans-Pacific Partnership
President Trump, in a surprising reversal, told a gathering of farm state lawmakers and governors on Thursday morning that he was directing his advisers to look into rejoining the multicountry trade deal known as the Trans-Pacific Partnership, a deal he pulled out of within days of assuming the presidency.
Rejoining the 11-country pact could be a sharp reversal of fortune for many American industries that stood to benefit from the trade agreement's favorable terms and Republican lawmakers who supported the pact. The deal, which was initiated by the Obama administration, was largely viewed as a tool to prod China into making the type of economic reforms that the United States and others have long wanted.
Both Democrats and Republicans attacked the deal during the president campaign, but many business leaders were disappointed when Mr. Trump withdrew from agreement, arguing that the United States would end up with less favorable terms attempting to broker an array of individual trade pacts and that scrapping the deal would empower China.
Republicans in Congress have also been skeptical of Mr. Trump's tendencies on trade, and 25 Republican senators sent a letter to Mr. Trump urging him to re-engage with the pact "so that the American people can prosper from the tremendous opportunities that these trading partners bring."
Previously: Donald Trump to Withdraw US from Trans-Pacific Partnership
Renamed TPP Signed, Without the IP Rules, Without the USA
Related: "Legal Scrub" of TPP Makes Massive Change to Penalties for Copyright Infringement
US Government's Own Report Shows Toxic TPP "Not Worth Passing"
Australia Leads Charge to Revive TPP While Canada Abstains
(Score: 4, Interesting) by tizan on Thursday April 12 2018, @11:30PM (2 children)
What did China give so far ...really what has been given up concretely ?
The trick as always China promises that it will lower tariffs....it has done that several times in the past...
people take that as a win and stop complaining and nothing happens ...and the Chinese government wins without declaring victory....subtle...but US lose again.
The Koreans are learning it too....see what will happen...bet you North Korea will still have nukes ..and South Korea will praise Trump for great leadership and North Korea will start recovering its economy without losing any military capability....and China wins without declaring any victory.
(Score: -1, Troll) by Anonymous Coward on Friday April 13 2018, @12:13AM (1 child)
If the Chinese don't deliver, our proper response is obvious: don't deliver.
We only get problems when we have wimpy unpatriotic presidents and/or too many people in congress who are too severely corrupted by bribes. This is, admittedly, a frequent problem. About half the republicans (none of the democrats) are better though, and will fight for the nation. It isn't even hard: just grow a spine and do what is best for America.
(Score: 0) by Anonymous Coward on Friday April 13 2018, @09:19AM
the country regularly is Ron Wyden, followed up on the right by Rand Paul (although I've seen him cave more often than Wyden.) Outside of them the rest of the trash in Congress really needs to be scraped out... or paved under. I mean if you can't drain the swamp, you might as well roll out a parking lot over it.