Senators: Trump is reconsidering his stance on TPP trade deal

Senators: Trump is reconsidering his stance on TPP trade deal

"Very thankful for President Xi of China's kind words on tariffs and automobile barriers", Trump said on Twitter on Tuesday. But farm organizations, the Greater Des Moines Partnership and many other groups supported the agreement as critical to opening markets for grain, meat and other products.

Trump's decision to consider a return to the trade deal comes as the United States and China trade escalating tariffs on products such as Chinese steel and electronics, and US aluminum and food products.

Trump had lumped TPP into a group of agreements he opposed because of his general thought that the United States was getting a raw deal from other nations in trade.

During a February news conference with Australian Prime Minister Malcolm Turnbull, Trump raised the possibility of rejoining TPP if the negotiators offered more favourable terms.

In January 2017, Trump signed an executive order withdrawing the USA from the TPP. "The deal was bad".

"Now we're really negotiating and I think they're going to treat us really fairly", Trump said during a White House meeting with Republican governors and lawmakers from farm states, "I think they want to".

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.

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Reuters reported that Trump talked of lifting the summertime ban on E15, which is limited due to concerns about smog.

The oil and natural gas industries have pressed Trump to waive some of the requirements in the federal Renewable Fuel Standard law that would ease volume mandates for gasoline and diesel refiners.

North Dakota Gov. Doug Burgum said Trump made some "pretty positive statements" about allowing the year-round use of E-15 ethanol, which could help corn growers.

"We don't need that".

But in recent months - even as he has erected tariffs on steel and aluminum imports and against China - the President has also begun to signal a willingness to reassess his stance on the Trans-Pacific Partnership. It is bad enough to force USA workers to compete with low-wage labor; they should not be forced to compete with no-wage labor. Critics of the President's decision to pull the U.S. from the deal have argued that the United States would have more leverage in a trade dispute with China if the USA had remained in the Trans-Pacific Partnership.

Kennedy is appearing before the House Ways and Means Committee, which is examining the impact of tariffs.

The U.S. hasn't announced a date it intends to impose tariffs on an initial list of $50 billion in Chinese goods. We have agreements with several of them already. He said China's theft of intellectual property has inflicted serious damage to US companies and threatens the country's future economic outlook.

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