The move came almost two years after President Donald Trump's withdrawal dealt a major blow to what would have been the world's largest free trade pact. Trump pulled out of the Trans-Pacific Partnership (TPP) deal in one of his first post-election moves as part of his "America First" clarion call, declaring the 12-nation trade pact a "job killer." The 11 remaining countries have pledged to move ahead with the deal, which could go into effect by the end of this year, although in a significantly watered-down version without the U.S. They have kept a door open for Washington's return, and have also not ruled out allowing other non-Pacific countries to join the deal. Japan's foreign minister on Thursday encouraged the U.S. to come back to the pact, speaking at a regional World Economic Forum (WEF) where concerns over trade protectionism have dominated discussions. "We believe TPP is still the best option for (the) United States," Taro Kono said. "It will be very attractive for American … [Read more...] about Japan, Vietnam urge US to rejoin Pacific trade deal
Malaysia's newly-elected prime minister called Monday for the Trans-Pacific Partnership to be "renegotiated," and urged protection for small countries in international trade. Malaysia, along with 10 other countries, pushed ahead with the TPP in March despite Donald Trump having yanked the United States out of the huge multilateral trade deal. But Mahathir Mohamad told a gathering in Tokyo he was "not very keen" on the agreement. "We need TPP renegotiated," he said in a speech to the "Future of Asia" forum. "We have to recognize: Just as there are infant industries, there are infant nations, nations which are just beginning to grow," he said. "They need to have some privileges, some protection for themselves, because they are not in a position to compete with the great trading nations, the great manufacturing nations of the world." Eleven countries circling the Pacific signed a slimmed-down version of the TPP in March, opting to proceed with the deal after it was left for dead when … [Read more...] about Malaysia PM urges TPP ‘renegotiation’
U.S. President Donald Trump said last week he would reconsider joining the landmark Trans-Pacific Partnership (TPP) trade agreement, if it were a “substantially better” deal than the one offered to President Barack Obama. Here is a look at the state of play in the negotiations and the conditions needed to be in place for the United States to join an agreement Trump scrapped as soon as he took office. What are the TPP and CPTPP? The original 12-member agreement was known as the TPP. It was a signature trade policy of Obama, but he was unable to secure Congressional support for the deal. It was thrown into limbo when Trump withdrew from the deal three days after his inauguration in January 2017, a move he said was aimed at protecting U.S. jobs. Following the U.S. withdrawal, the remaining 11 countries renegotiated parts of the TPP, removing some of Washington’s demands. In March, they signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership … [Read more...] about Trump says US could rejoin TPP if deal improved. How hard would it be?
By AFP  April 15, 2018 | 10:18 am GMT+7 President Donald Trump says the US could re-enter the TPP if it could get a 'better' deal, a major U-turn after leaving the Pacific trade pact last year. Photo by AFP 'I can't see us unpicking all the stitching that brought this deal together to accommodate the U.S. at this point.' There is "no appetite" among the Trans-Pacific Partnership signatories for major renegotiations to accommodate the US, Australia said Sunday after President Donald Trump indicated he was considering rejoining the pact. Trump said Thursday the U.S. could re-enter the TPP if it could get a "better" deal, a major U-turn after leaving the Pacific trade pact last year and calling it a jobs killer. But Australia's Trade Minister Steven Ciobo said he "can't see any appetite for any kind of wholesale renegotiations of the TPP deal to accommodate the United States". "Now don't get me wrong, that's not saying we don't want the Americans back in, … [Read more...] about ‘No appetite’ for major TPP changes to accommodate US: Australia
Ministers wave as they pose for the official picture before signing the rebranded 11-nation Pacific trade pact Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Santiago, on Mar 8, 2018. (CLAUDIO REYES/AFP) President Donald Trump has directed senior aides to explore rejoining the 11-nation Trans-Pacific Partnership if a "better deal" can be reached, the White House said on Thursday (Apr 12). The decision, which was welcomed by lawmakers from agricultural states, could mark an abrupt about-face for a president who had campaigned against the deal and swiftly withdrew from it after taking office last year. But the White House was quick to point out that Trump's decision, rather than a flip-flop, was consistent with earlier statements. "Last year, the President kept his promise to end the TPP deal ... because it was unfair to American workers and farmers," Deputy White House Press Secretary Lindsay Walters said in a statement. However, he "has consistently … [Read more...] about Trump considers rejoining TPP, the Pacific trade pact he once spurned