Trump Says WTO, TPP Not Serving US Interests, Bilateral Deals More Profitable

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Credit Wikipedia

President donald-trump tweeted against the US after asking trade officers to reexamine re-joining that the transpacific Partnership. New Zealand's Trade Minister says his country isn't blind to the benefits of trading with the world's largest economy.

After initially pulling the U.S. out of the multilateral trade agreement - the Trans-Pacific Trade Pact in his first week in office past year, last week, the U.S. President Donald Trump suggested that he was having second thoughts. It was a signature trade policy of President Barack Obama, but he was unable to secure Congressional support for the deal.

White House economic adviser Larry Kudlow suggested to reporters that the United States would like to negotiate a bilateral free trade deal with Japan.

Trump said on Twitter on Tuesday night that although Japan and South Korea would like the U.S.to join the 11 other nations in the multilateral trade agreement, he had no intention of doing so. Before leaving for the talks in Florida, he told reporters in Tokyo that Japan and the USA should "take the lead on growing the economy of the Indo-Pacific through free and fair trade and investment". President Donald Trump has tweeted that he is no longer interested in rejoining the Trans-Pacific Partnership trade treaty.

"While Japan and South Korea would like us to go back into TPP, I don't like the deal for the United States", Trump tweeted following a meeting with Japanese Prime Minister Shinzo Abe in Florida.

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Pat Roberts, of Kansas and Ben Sasse of Nebraska told reporters after a White House meeting on agriculture that Mr. Trump himself had tasked his chief economic adviser Larry Kudlow and the U.S. Trade Representative Bob Lighthizer to find a way back into the pact. "I don't think he is", added Kudlow. "And I much would prefer a bilateral deal, a deal directly with Japan". "There is a growing demand for United States agricultural products around the world, and American farmers and manufacturers should be able to compete in these markets", Ernst said in a statement.

"If the United States isn't a part of it then that is good for Australia. because it means our Australian beef farmers are getting much market access than USA beef farmers", the minister said. "It will come up in this summit, no question about it".

But trade has been the most significant dividing line between congressional Republicans who generally favor free trade and a president who has embraced protectionist positions.

On the other hand, during this four-day visit Abe has a special interest in getting an exemption for Japan from the 10 per cent and 25 per cent tariffs that the Trump administration imposes on aluminum and steel imports, respectively. "I wish it was different than it is".

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