Sanders slams Trump's proposal to rejoin Trans-Pacific Partnership

Saul Bowman
April 13, 2018

Roberts said Kudlow and Lighthizer would be working with the Agriculture Committee, calling the move "certainly good news".

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.

Hoeven said the meeting with Trump was a "very positive" meeting about opening up more markets to "free" and "fair" trade.

Trump railed against the original TPP and other multilateral trade deals throughout the 2016 campaign, arguing that poorly negotiated trade agreements destroyed USA jobs.

The Nebraska Senator cautioned however that "The president is a guy who likes to blue-sky a lot and entertain a lot of different ideas, but he multiple times reaffirmed the point that TPP might be easier for us to join now". The US would reenter the deal if it was "substantially better", he told CNBC at the World Economic Forum in Davos.

"If the Trump administration doesn't pose too many demands, it is likely that the other TPP members will see the value of the bringing the US back into the fold", said Eswar Prasad, Cornell University professor of trade policy. Senator Ben Sasse told reporters of Trump's commitment on TPP, and two White House officials who spoke on condition of anonymity confirmed the statement.

As tensions rise with China over tariffs, it looks like the president might be having second thoughts.

Trump signaled a possible reconsideration of the TPP back in January if its terms were more favorable.

Soybeans are a major USA export crop to China, and as such the hardy legumes have found themselves in the middle of a bubbling trade war.

Lawmakers later Thursday are scheduled to meet with President Donald Trump to talk about trade.

During the exchange, Trump suggested the possibility of directing the Environmental Protection Agency to allow year-round sales of renewable fuel with blends of 15 per cent ethanol.

Reuters reported that Trump talked of lifting the summertime ban on E15, which is limited due to concerns about smog. "What we want is a market", Roberts said during a congressional hearing this week.

An array of business executives are expressing alarm to federal lawmakers Thursday about the impact that tariffs will have on their business. He says that's shifting work to competitors outside the U.S.

The U.S. hasn't announced a date it intends to impose tariffs on an initial list of $50 billion in Chinese goods. Trump campaigned on promises to bring down America's massive trade deficit - $566 billion United States past year - by rewriting trade agreements and cracking down on what he called abusive practices by USA trading partners.

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