White House Economic Adviser Walks Back Trump's Talks of Rejoining TPP

Leaders of prospective TPP members in 2010

Leaders of prospective TPP members in 2010

He said there were "too many contingencies" and that "bilateral deals are far more efficient, profitable and better" for American workers.

President Trump tweeted late Tuesday against the United States rejoining the Trans-Pacific Partnership agreement after recently asking trade officials to explore the deal he pulled out of during his first days in office. It was a signature trade policy of President Barack Obama, but he was unable to secure Congressional support for the deal.

"I don't want to go back into TPP, but if they offered us a deal that I can't refuse, on behalf of the United States, I would do it", he said.

The Trans-Pacific Partnership is created to open up free trade between the countries involved, making them less reliant on China. Kudlow said any sort of deal "has to be in USA interest for us to take another look and actually go into it", adding that at present, Trump is not interested in rejoining the deal as it stands.

Trump last week directed Larry Kudlow, director of the National Economic Council, and Robert Lighthizer, U.S. trade representative, to "negotiate U.S. entry into TPP", Sen.

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"I can't see us unpicking all the stitching that brought this deal together to accommodate the United States at this point", Mr Ciobo told Sky News. "But we think that's much better for us", he said. "We believe we are fairly close to a deal, and we're going to be working earnestly to make that a reality for all of our nations", said Pence at a summit plenary session.

On the other hand, Japan reached a deal with the accord's 11 remaining members last month.

In fact, the trade deficit with Japan previous year stood at $69 billion, far from the $100 billion that the US President claimed, according to the official figures by the US Department of Commerce.

Trump's mixed signals have put his economic advisers in an awkward position and have raised the hopes of many Republicans in Congress who have been optimistic that he would seek ways to ease trade tensions.

On the other hand, during this four-day visit Abe has a special interest in getting an exemption for Japan from the 10 per cent and 25 per cent tariffs that the Trump administration imposes on aluminum and steel imports, respectively.

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