In meeting with Iowans et al., Trump says he may revive TPP

In meeting with Iowans et al., Trump says he may revive TPP

Senator Ben Sasse, " Republican of Nebraska, said that it was "good-news" which the president had directed his economic advisor, Larry Kudlow, and his trade, Robert Lighthizer, to explore re-joining the offer.

Trump is also reconsidering his stance on the behemoth trans-Pacific trade deal as he inches closer to a trade war with China.

The problem is that TPP is going to open up markets and supply chains for numerous participants.

On talks with Canada and Mexico to revamp Nafta, Trump said negotiations are "coming along great", though he added there's no timeline on reaching a deal.

The countries signed the agreement but they still must individually ratify it before it can be formally implemented.

Trump first disclosed his request Thursday to a group of lawmakers at a White House meeting on trade. "The President has consistently said he would be open to a substantially better deal", she added.

A spokesman for New Zealand's Trade Minister David Parker says: "We are aware of the media reports and our trade reps. but New Zealand is the official depository under CPTPP and we are yet to receive anything official".

But entering into a new TPP could unify Trump with other trading partners and put new pressure on Beijing to either allow more imports into China or risk being alienated by other Asian countries, that would now received new trade benefits as part of the deal.

The risk of an escalating trade war with China has panicked American farmers and ranchers, who send many of their products overseas. Gasoline typically contains 10 percent ethanol.

The meetings came as an array of business executives and trade groups expressed alarm to federal lawmakers Thursday about the impact that tariffs will have on their business.

China's aggressive response to Mr. Trump's tariffs is aimed squarely at products produced in the American heartland, a region that helped send him to the White House. "Undoubtedly, a TPP that includes the US would be stronger and more formidable than one that does not". The U.S. has accused China of unfairly subsidizing targeted sectors and forcing foreign companies to transfer technology in areas like robotics, aerospace and artificial intelligence.

The move would be a reversal for Mr. Trump, who signed an executive order in January 2017 shortly after taking office to signify the USA exit from the 12-country Asia Pacific free trade deal.

Associated Press writers Catherine Lucey, Jill Colvin, Paul Wiseman and Matthew Daly in Washington and James MacPherson in Bismarck, North Dakota, contributed.

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