New Zealand Wary Of Trump's Pacific Trade U-Turn

Japan minister: Good to have US back in TPP but path of return tough (VIDEO)

The agreement, excluding the US, now includes Australia, Brunei, Chile, New Zealand, Peru, Singapore, Vietnam, Japan, Malaysia, Canada and Mexico.

"We welcome the United States coming back to the table but I don't see any wholesale appetite for any material re-negotiation of the TPP-11", Australia Trade Minister Steven Ciobo said Friday.

The Trans Pacific Partnership, a deal Trump once described as a "rape of our country", is a multicountry trade agreement in which the US participated under President Obama.

American Federation of Labor and Congress of Industrial Organizations president Richard Trumka said on Twitter that the TPP "was killed because it failed America's workers and it should remain dead". "There is a growing demand for US agricultural products around the world, and American farmers and manufacturers should be able to compete in these markets", Ernst said in a statement. "Just a continuing rape of our country".

But rejoining it could be a complex task.

And the USA still has plenty of economic pull to lure the TPP nations back to the table.

He said he could not see it "all being thrown open now to appease the United States". Ron Johnson, R-Wis., was among a handful of senators who recently visited China to meet with government and business leaders there.

"I have to believe President Xi [Jinping] is smiling all the way to regional domination as a result of our pulling out of TPP".

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Ministers from Japan, Australia and Malaysia had welcomed President Donald Trump directing officials to explore returning to the TPP, but they also cautioned against making any significant changes.

Like many other Trump decisions, the call to reconsider American participation in the TPP caught his advisers by surprise. China has responded to Trump's threat of tariffs on as much as $150 billion worth of Chinese goods by placing its own tariffs on US pork and threatening taxes on soybeans, sorghum, corn and beef.

The reconsideration of TPP comes after the White House and Mr. Trump announced new tariffs on steel and aluminum imports, and specifically tariffs that will impact China. Chinese tariff proposals run the agricultural gamut from hogs to soybeans and more ["Farmers who backed Trump fear becoming pawns in trade war", news, April 9].

The Trump administration says it has ordered the Agriculture Department to create a program to help farmers hurt by trade. The president said he will review proposals created to shield farmers from the impact of tariffs that will surely devastate American agriculture.

But such a program would be time-consuming and costly and would come as the budget deficit continues to increase. And many economists say the best way to combat a rising China and pressure it to open its market is through multilateral trade deals, such as the Trans-Pacific Partnership, which create favorable trading terms for participants.

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

Earlier in the day, Nebraska Sen. Larry Kudlow, Trump's new economic advisor, told times in a statement that "this whole trade thing has exploded".

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