President Trump’s ‘Team’ to Review TPP Agreement
President Trump on Tuesday said he's opposed to the US reentering the Trans-Pacific Partnership (TPP), and instead advocated for establishing bilateral trade deals with countries.
"Our preference is for the United States to come back to TPP, but there is a sense that the US side wants a bilateral free trade agreement with Japan, so this point is of the utmost concern", Aso told reporters.
"Too many contingencies and no way to get out if it doesn't work". Kudlow said any sort of deal "has to be in USA interest for us to take another look and actually go into it", adding that at present, Trump is not interested in rejoining the deal as it stands.
The tweet followed Trump last week telling a group of lawmakers during a business and trade White House meeting concerning rising tariffs with China that he was reconsidering joining the TPP.
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".
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As for South Korea: While the nation isn't in the TPP, it may look to become a member should the USA decide to recommit, Bloomberg Law reported on Tuesday, citing a trade ministry official, who was not authorised to be cited. According to Obama, this would put millions of jobs across the United States at risk.
However, Obama's administration suspended its efforts to get the agreement through Congress following the surprise election of Trump in November 2016, who called the TPP a "disaster" during his election campaign and said it would threaten American jobs by introducing lower-wage competition.
The 11 remaining members of TPP, led by Japan, signed an agreement in March.
"I want to reaffirm our cooperation on North Korea, our cooperation on economic matters, and show the strong ties between our two countries", Abe told reporters before his departure.
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