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

Japan's Finance Minister Taro Aso answers a question during an upper house parliamentary session in Tokyo

Japan's Finance Minister Taro Aso answers a question during an upper house parliamentary session in Tokyo Japan

Here is then-candidate Trump in June of 2016.

President Donald Trump is making an about-face on the Trans-Pacific Partnership.

As he often does, the President started to change gears after hearing complaints from important constituents - in this case, Republican lawmakers who said farmers and other businesses in their states would suffer from his trade approach because they send many of their products overseas.

More broadly, it signals to the region that the United States is not giving up on trade, despite Trump's sometimes harsh words. He's with us in studio now.

Trump has voiced opposition against the TPP since 2015, long before he was elected president. One, national economic reasons, particularly agricultural interests, other interests of USA workers who want to have access to these fast-growing Asia-Pacific markets. "I think they want to". Many American agriculturalists maintain that the easiest way to help them is to avoid a trade war with China in the first place.

HOLLEYMAN: Politics around trade have always been incredibly complicated.

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Trump's interest in rejoining the TPP comes at a time when US trade relations with China are deteriorating.

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 USA negotiators had long argued to see included. Several of the countries might insist that the US accept the existing agreement as a whole as a requirement for rejoining.

His Japanese counterpart, Toshimitsu Motegi, also did not accept changes in an instrument that he considers "balanced, like a fragile vase".

HOLLEYMAN: No, I think clearly those countries will make some demands. "Will they be able to negotiate those back in?"

For its part, the Trump administration worries that the partnership will become a zero-tariff backdoor for Chinese goods into the US market. This announcement concludes a process started by the President in April 2017 when he first raised the issue of US pork exports during a meeting with Argentine President Mauricio Macri.

In March, the remaining 11 members of the accord agreed on new terms, which they have begun to ratify.

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KING: It'll be tough.

It is also unclear how serious Mr Trump is about rejoining.

Trump's renewed interest in the pact depends on whether the United States could strike a better deal than President Barack Obama did, Trump said in a Thursday night tweet. A commerce ministry spokesman said negotiations were impossible under "unilateral coercion" by President Donald Trump's government.

Australia's trade minister, Steven Ciobo, said that with a deal already in place, he "can't see that all being thrown open to appease the United States". Almost two-thirds of US soybean exports go to China. "So, it will be hard to take only parts of it and reopen negotiation, or change only parts of it". I mean, TPP was created to be the alternative to the closed Chinese system.

The actions of the Administration will provide US agriculture and food producers with access to markets worth billions in trade. Thank you so much, sir.

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