During a meeting with Republican senators on Thursday Trump reportedly said he had asked Larry Kudlow, his national economic council chairman, and the USA trade representative Robert Lighthizer to take another look at the pact - a deal he once called Republicans "stupid" for endorsing.
Sasse, who recently returned from a trip to China, admitted that they cheated on trade and stole intellectual property but suggested that the best way to compete with them was to lead Pacific nations on global trade.
"We should be leading TPP", Sasse said. The administration is also expected to release a separate list for the additional proposed tariffs covering $100 billion in imports from China. A trade war with China could possibly be especially devastating to rural markets, particularly to pig farmers and soybean and corn growers.
Trump first disclosed his request Thursday to a group of lawmakers at a White House meeting on trade.
"In a series of broken promises President Trump made to the working people of this country, rejoining the job-killing Trans-Pacific Partnership would be the biggest yet". He says that's shifting work to competitors outside the U.S. Eleven Pacific Rim countries signed the sweeping agreement: Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. "Just a continuing rape of our country".
Kevin Kennedy, president of a steel fabrication business in Texas, said tariffs on steel and aluminum imports have led USA steel producers to raise their prices by 40 per cent.More news: Pompeo Vows to Boost State Dept., Confirms He 'Cooperated' With Mueller
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Abandoning TPP was a signature motif of Trump's campaign.
Trump's announcement to re-visit TPP came during a meeting with Agriculture Secretary Sonny Perdue, Republican governors and Republican lawmakers to discuss issues impacting the agricultural community, including trade, according to White House deputy press secretary Lindsay Walters. And, sure, a new TPP might allow the president and his team to find a framework for how they might a approach new NAFTA.
"If it holds until this afternoon, that's a good move", remarked Sen. Sen Ron Johnson, R-Wis., was among a handful of senators who recently visited China to meet with government and business leaders there.
The 11 other TPP countries signed a new version of the deal, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, in March, excluding the United States.
Roberts and Sasse said they poured cold water on the president's idea that if tariff tensions with China escalate, he will provide federal aid to US farmers.