Monday, 21 May, 2018

TPP re-think could boost US-Pacific trade

Trump to take another look at TPP 'disaster' Trump wants better terms to rejoin TPP
Sammy Stanley | 14 April, 2018, 21:37

"Well I think you have to take it seriously but I think there is an enormous chance that this is simply posturing or a tactical decision taken to placate concerned governors and senators from agricultural states that could be affected by China imposing tariffs", said Charles Finny, a Wellington-based trade consultant and a former New Zealand government trade negotiator.

The announcement from the White House also pointed out this position taken Mr. Trump was in line with earlier statement and should not been seen as a flip flop by the president.

Sen. Pat Roberts, a Republican from Kansas, and Sen. And this was what Sen. For years, these countries have taken advantage of the U.S.by throwing up barriers to US exports while enjoying the benefits of the USA economy uninhibited.

Trump's opposition to multinational trade pacts like the Trans-Pacific Partnership and the North American Free Trade Agreement was a central part of his campaign for president in 2016 and accounted for some of his appeal to working-class voters. "He has both pilloried China and praised its leader Xi Jinping".

And true to form, Trump is preserving his options with the TPP gambit.

"Now we're really negotiating and I think they're going to treat us really fairly", President Trump said.

So the usual swarm of asterisks applies. Now, suddenly, the president that has railed against trade pacts featuring the USA and more than one other partner is considering joining TPP.

"The best thing the United States can do to push back against Chinese cheating now is to lead the other eleven Pacific nations that believe in free trade and the rule of law". Trump pulled out of the deal as one of his first acts as president a year ago.

Trump withdrew the USA from the TPP during his first week in office. China is waging full-scale war against key USA industries. The American Farm Bureau Federation projected that under the TPP annual net farm income would have jumped by $4.4 billion, driven by an increase of direct US agricultural exports of $5.3 billion per year upon full implementation of the agreement. "They point to a speech on Tuesday by [Xi], who promised to roll out measures this year to lower tariffs on imported cars and to ease foreign ownership restrictions on auto makers in China".

However, they also cautioned against making any significant changes.

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Clearly, this move is a response to China, with whom he is engaged in a "cold" trade war.

Each government is gearing up to outflank the other with their trading partners. "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".

"The renegotiated deal, the strategy was to hold back things that America really wanted but keep the market access there so that U.S. exporters were missing out".

New Zealand Prime Minister Jacinda Ardern, noting the progress made by the 11 countries after Trump abandoned the deal, also flagged challenges to the USA rejoining the pact.

In eight years under Barack Obama we had a president that took over the worst economic disaster since 1920, nearly a 100 years ago. He has ordered his administration to examine rejoining the TPP.

The Post team writes that the Trump administration can't expect to waltz back into the pact.

"The United States is the largest economy in the world and it's one of the two super powers beside China so its comments are of interest to us". "But several countries in the deal have cast a wary eye toward Trump's pendulum swings on trade".

While the prospect of US -led military action that could lead to confrontation with Russian Federation hung over the Middle East, the White House accused Syria of carrying out a toxic gas assault on April 7 that killed dozens of people in Douma, near Damascus.

Suddenly, President Trump seems to agree, or at least to understand the logic.

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