Trump weighs rejoining Trans-Pacific Partnership

THE WASHINGTON POST:

President Trump ordered top administration officials Thursday to look at rejoining the Trans-Pacific Partnership, the sprawling trade pact he rejected three days after taking office.

The move would mark a stunning reversal for Trump, who sharply criticized the pact as a “disaster” and made opposition to global trade deals a centerpiece of his economic agenda as a candidate.

The Obama administration had signed the trade agreement, known as TPP, with 11 other countries, including Japan, Vietnam, Singapore and Australia, to lower tariffs and counter China’s influence in the Pacific. An embrace of the TPP would give Trump more leverage in his escalating trade feud with Beijing. It also would give U.S. farms, retailers and other businesses better access to foreign markets if China makes good on its recent threats of new tariffs on U.S. goods.

Thursday’s order comes as Trump pushes forward on a chaotic revamp of the United States’ approach to global trade, seemingly veering from trade wars one day to multinational pacts the next. He has gone from assailing Canada and Mexico to saying he’s within striking distance of renegotiating the North American Free Trade Agreement. He has both pilloried China and praised its leader, Xi Jinping.

Read more at the Washington Post

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