During a meeting with farm-state lawmakers, President Donald Trump said he has directed his trade team to look into rejoining the Trans-Pacific Partnership. Meeting with Senators and other leaders from the Midwest, President Trump heard of the troubles his trade policy is posing to agriculture, and the benefits of TPP to farmers and ranchers. Senator Ben Sasse of Nebraska, who …
TPP Leaves U.S. Behind
The 11 remaining Trans-Pacific Partnership (TPP) countries officially left the U.S. behind Thursday, signing an amended agreement that does not include the United States. The 11 nations signed what is now called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership the same day the U.S. moved to a more trade protectionist status, rolling out tariffs for steel and aluminum imports. …
USTR Wants Renewal of Trade-Promotion Authority
The Office of the U.S. Trade Representative (USTR) says it plans to ask for a three-year extension of trade-promotion authority in order to negotiate new trade deals. Robert Lighthizer says those discussions could be with Japan, Vietnam, and other members of the Trans-Pacific Partnership if they’re interested. Politico quotes Lighthizer as saying, “The Trump administration will aggressively negotiate trade deals …
Treasury Secretary Mentions U.S. Possibly Re-joining TPP
It’s been over a year since President Trump pulled the U.S. out of the multinational Trans-Pacific Partnership (TPP). Treasury Secretary Steven Mnuchin says the U.S. is willing to discuss possibly rejoining the trade pact. He spoke recently at an investment summit meeting sponsored by the U.S. Chamber. According to Mnuchin, renegotiating the agreement is “absolutely on the table” and he’s …
Trump Says Re-entering TPP is “possible”
A Bloomberg report says President Trump would consider rejoining the Trans-Pacific Partnership if the U.S. could negotiate more favorable terms. Trump made the announcement during a joint news conference with Australian Prime Minister Malcolm Turnbull last Friday. “TPP was a very bad deal for the United States,” said Trump. “There’s a possibility we could be going back in if offered …
McKinney Predicts Trade Deal With Japan
The top USDA trade official, Ted McKinney, says he anticipates a trade deal with Japan will likely take place if the United States doesn’t re-enter into the Trans-Pacific Partnership. McKinney says he doesn’t know what the scope of the agreement will be but calls it “not a matter of if, but when.” He spoke about the topic during the Agricultural …
Senators Urge Trump to Rejoin TPP
A group of Republican Senators is urging President Donald Trump to rejoin the Trans-Pacific Partnership (TPP) trade agreement. The 25 lawmakers, including many from western and farm states, encouraged Trump to “work aggressively to secure reforms that would allow the United States to join the agreement” according to Politico. In a statement, the group says: “An improved TPP would therefore …
Canada Toughens NAFTA Stance
Canada Prime Minister Justin Trudeau took a move out of President Trump’s playbook over the weekend, offering his own threats to walk away from the North American Free Trade Agreement(NAFTA). Trudeau says there are several reasons Canada could choose not to accept the re-negotiated agreement. Speaking at a town-hall event, Bloomberg reports that Trudeau said: “Canada is willing to walk …
Australia Touts Benefits of U.S. Re-joining TPP
In a Washington, D.C. speech Monday, an Australian trade official stressed the benefits of the U.S. rejoining the Trans-Pacific Partnership (TPP). Australian Ambassador to the U.S. Joe Hockey addressed the Washington International Trade Association Monday afternoon, and spoke on the need to engage with the Asia-Pacific region for security and economic reasons, according to Politico. In prepared remarks, Hockey stated: …
Report Says Trade Shuffle Poses Risk for Beef Exports
Demand and production for beef may rise this year, but trade remains a wildcard that poses risks to the beef export market, according to a new report by CoBank. The report says trade uncertainty could hamper the U.S.’s ability to capture market share in the coming years. CoBank says 80 percent of beef exports are sold to countries that could …