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Trump orders advisers to study re-entering TPP: senator

Trump orders advisers to study re-entering TPP: senator

President Donald Trump instructed his top advisors to begin exploring how the US could join the Trans-Pacific Partnership (TPP) on Thursday, just one year after abandoning the trade pact he'd blasted throughout his presidential campaign as a "horrible deal" and a "disaster". Visit MarketWatch.com for more information on this news.

"That news was news to me", he said.

"He said he's going to deputize (National Economic Council Chairman) Larry Kudlow and (US Trade Representative) Robert Lighthizer to look at re-entering the TPP negotiations", Republican Sen.

The president uncorked the news in a meeting with farm-state senators.

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Trump then told Lighthizer and Kudlow to "take a look at getting us back into that agreement, on our terms of course", Thune said.

President Donald Trump has directed his top trade and economic advisers to take a fresh look at the Trans-Pacific Partnership trade agreement he withdrew from in his first week in office, Republican senators said Thursday. "Increased economic engagement with the 11 nations now in TPP has the potential to substantially improve the competitiveness of US businesses, support millions of U.S.jobs, increase USA exports, increase wages, fully unleash America's energy potential, and benefit consumers".

"The best thing the United States can do to push back against Chinese cheating now is to lead the other eleven Pacific nations that believe in free trade and the rule of law", Sasse said in the statement. "And that certainly would be good news all throughout farm country".

"We have officially terminated TPP", declared Mr. Trump at the order signing.

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The administration is also considering the possibility of the federal government aiding farmers harmed by retaliatory tariffs from China, according to lawmakers on Capitol Hill and advocacy groups.

The Trump administration says it has ordered the Agriculture Department to create a program to help farmers hurt by trade.

He told Fox News last weekend that Canada, Japan, Australia, and Europe would be part of this so-called coalition, but did not offer specifics about what policies they might pursue.

Volpe had been predicting that in reply to Abe's demand for relief from tariffs, a logical response from Trump would be to request USA entry into TPP - under more favourable, NAFTA-friendly auto rules.

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But in recent months - even as he has erected tariffs on steel and aluminum imports and against China - the President has also begun to signal a willingness to reassess his stance on the Trans-Pacific Partnership.