Several negotiation stakeholders toldthe New York Times that they'd be unwilling to bend to the us upon re-entry into the deal.
"If these comments mean that President Trump is correctly evaluating the significance and effects of the TPP, then we welcome them", said Toshimitsu Motegi, the minister in charge of TPP.
There is also skepticism from other countries in the 11-nation deal: Australia's trade minister says there's very little appetite for a renegotiation, and Japan's minister on the file compares the deal to a carefully crafted glass sculpture that would be hard to change. The President will take strong action to confront those countries who do not treat us fairly and work to get a better deal for American exports.
US President said the would only join the, a multinational trade pact his administration walked away from past year, if it offered "substantially better" terms than those provided under previous negotiations.
"We welcome the United States coming back to the table, but I don't see any wholesale appetite for any material renegotiation of the TPP-11", Australia Trade Minister Steven Ciobo told Bloomberg yesterday.
Mr Trump made the commitment while meeting politicians from farming states, who are among those concerned about a trade war, senators say.
In his Twitter post, which came during Asian trading hours, Trump said the United States would "only join TPP if the deal were substantially better than the deal offered to Pres. Obama".
A week after escalating tensions with his threat to impose tariffs on an additional $100 billion in Chinese products, Trump said on Thursday the two countries ultimately may end up levying no new tariffs on each other. And I think the president realizes, as President Obama did, that having closer links economically with those countries increases our defense capabilities and readiness.
The S&P 500 Index closed up 0.8% and the Dow Jones Industrial Average added nearly 300 points, or 1.2%, as investors assessed the changing trade dynamics.
One of his first official moves in office was a formal withdrawal from the deal penned under Obama.
The deal, negotiated by the Obama administration, was largely intended as a tool to prod China into making economic changes that the U.S. and others have long wanted. For instance, ranchers in Australia can send beef to Japan more cheaply than ranchers in the US.
Nebraska Republican Sen, Ben Sasse, who was part of a group of elected officials who met with the president to talk trade on Thursday, said economic adviser Larry Kudlow will lead the TPP effort.
The exchange of statements came a day after the USA president asked his advisers to return his country to the TPP in the face of growing nervousness over a trade war with China.
The news infuriated labor unions and many working-class supporters of the president. It sounds like what you're saying is that is unlikely to happen, not without a lot of negotiation.
One of the White House officials said that while the president prefers negotiating bilateral trade deals, a multilateral deal with the TPP countries would counter Chinese competition and would be faster than negotiating one-on-one with each of the 11 other nations.
In other Facebook news, CEO Mark Zuckerberg sold 290,000 shares of the company's stock in a transaction on Wednesday , April 4th. Facebook, Inc . (NASDAQ: FB ) stock slipped -$2.14 lower during the regular trading session on Friday , hitting $157.20.
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