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Sasse says Trump has directed Lighthizer, Kudlow to look into joining TPP

Sasse says Trump has directed Lighthizer, Kudlow to look into joining TPP

Trump directed U.S. Trade Representative Robert Lighthizer and economic adviser Larry Kudlow to determine whether the United States could achieve a better trade deal between the United States and the 11 other TPP countries.

In his remarks on Thursday, Trump cited a speech by Chinese President Xi Jinping that the USA president interprets as a signal China is about to open its markets to more US goods.

US President Donal Trump says he is considering re-joining the Trans-Pacific Partnership (CPTPP) trade agreement. Last month, the 11 remaining countries signed an agreement in Chile, though it still has to be ratified by local officials in some countries.

The U.S. International Trade Commission, an independent federal agency, has projected in 2016 that TPP would increase economic growth and create jobs, but the gains would be small: After 15 years, the deal would add just 128,000 jobs, an increase of less than a tenth of 1 percent.

"He looked right at Larry Kudlow and said, 'Larry go get it done, '" Sasse said, recounting the meeting to White House reporters. "And that certainly would be good news all throughout farm country". "We're going to work out something during the transition period, which is not easy, very complicated", Trump said. Visit MarketWatch.com for more information on this news. The deal was bad, the way it was structured was awful.

The White House meeting was aimed at appealing to the Midwest lawmakers at a time of high anxiety because of the China trade dispute.

The EPA now bans the 15 per cent blend, called E15, during the summer because of concerns that it contributes to smog on hot days. Farm state lawmakers have pushed for greater sales of the higher ethanol blend to boost demand for the corn-based fuel. China has responded to Trump's threat of tariffs on as much as $150 billion worth of Chinese goods by placing its own tariffs on USA pork, and threatening taxes on soybeans, sorghum, corn and beef. But some key senators oppose the approach. "We need to have reciprocity". We do not want another subsidy program.

Exporters, such as farmers, have said they are now concerned that the USA will be at a disadvantage to competitors in the region. It is bad enough to force US workers to compete with low-wage labor; they should not be forced to compete with no-wage labor. Canada and Mexico are both signatories.

Daines, who recently returned from China, said America's farmers and ranchers have the most to lose in a trade war with the world's second largest economy, though he also believes that China's trade policies and its theft of intellectual property must be addressed. And we'll make it up to them.

"Joining the TPP would not bring back one American job that has been outsourced to China". He said at the time that he would pursue individual deals with the other countries.


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