Friday, 19 October, 2018

New Zealand Wary Of Trump's Pacific Trade U-Turn

New Zealand Wary Of Trump's Pacific Trade U-Turn New Zealand Wary Of Trump's Pacific Trade U-Turn
Charlie Simmons | 15 April, 2018, 01:10

Priest said the new version excludes several critical provisions that would have benefited the US had it not withdrawn from the agreement a year ago.

New Zealand's liberal government, voted into power past year, has been more cautious about the deal than the previous conservative government.

"Now we're really negotiating and I think they're going to treat us really fairly", Trump said during a White House meeting with US Republican governors and lawmakers from farm states.

"The Trump administration would have had a strong hand if it had insisted on renegotiating TPP when the president took office in January 2017", Alden said.

The news infuriated labor unions and many working-class supporters of the president.

"The real strategy we need is to lead all of those rule of law nations in the Pacific who would rather be aligned with the USA than with China". That's what it is, too.

But rejoining it could be a complex task.

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But when 11 remaining countries inked the final deal - now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - in March, the agreement lacked numerous provisions US negotiators had long argued to see included. While the United States would significantly bolster the pact if it signed up, its entry would require intense negotiations - and current members will expect significant concessions from the American side. Still, negotiations with a group of longtime trading partners could hold appeal at a time of increasing tensions with China.

"I have to believe President Xi [Jinping] is smiling all the way to regional domination as a result of our pulling out of TPP".

When President Trump announced the United States' withdrawal from TPP, AFBF President Zippy Duvall encouraged the White House to continue to expand export opportunities for farmers and ranchers.

Rejoining the pact could be a significant change in fortune for many USA industries that stood to benefit from the trade accord and for Republican lawmakers who backed it. China has responded to Trump's threat of tariffs on as much as $150 billion worth of Chinese goods by placing its own tariffs on US pork and threatening taxes on soybeans, sorghum, corn and beef. Almost two-thirds of US soybean exports go to China. Many American agriculturalists maintain that the easiest way to help them is to avoid a trade war with China in the first place. The Trans-Pacific Partnership would open more overseas markets for American farmers.

Comparing the multicountry trade agreement to "a glasswork", Yoshihide Suga, Japan's chief cabinet secretary, cautioned against any efforts to change it to accommodate Trump. Ben Sasse, R-Neb., said in a statement.

Information for this article was contributed by Ken Thomas, Kevin Freking, Catherine Lucey, Jill Colvin, Paul Wiseman, Matthew Daly and James MacPherson of The Associated Press and by Erica Werner, Seung Min Kim and Damian Paletta of Bloomberg News.

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