Trump rejects TPP again

 

A week after Donald Trump said his country could consider rejoining the Trans Pacific Partnership (TPP), the US president is now indicating he doesn’t think it would be good for the world’s largest economy.

Mr Trump took to Twitter after a bilateral meeting with Japanese Prime Minister Shinzo Abe at the president’s Mar-a-Lago resort in Florida.

“While Japan and South Korea would like us to go back into TPP, I don’t like the deal for the United States. Too many contingencies and no way to get out if it doesn’t work. Bilateral deals are far more efficient, profitable and better for OUR workers. Look how bad WTO is to U.S,” Mr Trump tweeted.

The curious part about that tweet is that South Korea is not a member of the TPP.

On his first full day in office in January last year, Mr Trump pulled the US out of the TPP after campaigning against it during his 2016 run to the presidency.

However, last week he had raised the possibility of rejoining it following pressure from agricultural states not to start a trade war with China.

The 11 remaining members of the TPP, including Australia and Japan, signed the trade pact into existence earlier this year and left open the possibility of the US rejoining it.

Mr Trump’s tweet comes at a time when he is embroiled in a trade dispute with China which threatens to blow out into a trade war.

 



An award winning author and journalist, commentator, lecturer, and speaker, Leon is a freelance business journalist who covers a range of areas including politics, strategy, globalization, leadership and all the big trends ahead. His main skill is summing up all the news that’s around. For the last 30 years, his main focus has been on management issues. He also produces two podcasts for RMIT University, Talking Business and Talking Technology. Leon has worked for Fairfax, News Limited, AAP and the Herald and Weekly Times.


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