President Trump has asked trade advisors to rejoin Trans-Pacific Partnership: White House
Donald Trump
Trump had pulled out of the deal last year over job creation concerns.
White House spokeswoman Lindsay Walters said today President Trump has asked trade advisors to rejoin the Trans-Pacific Partnership(TTP) which the US had pulled out from last year.
Republican senators met with Trump on Thursday and he told them that he has asked United States Trade Representative Robert Lighthizer and White House economic advisor Larry Kudlow to re-open negotiations, Reuters reported.
"The president has consistently said he would be open to a substantially better deal, including in his speech in Davos earlier this year," White House spokeswoman Walters said.
Trump had pulled out of the deal last year over job creation concerns. The TPP consisting of 11 countries is aimed at cutting trade barriers in Asia-Pacific to boost trade.
The deal pitched against China aims to pressure the Communist country into opening its markets and lowering tariffs, a strategy critical for the Trump administration with trade wars brewing between the US and China.
Trump's 2016 presidential campaign was built around the TPP and the North Atlantic Free Trade Agreement(NAFTA), both deals the president had vowed to pull out from over "unfair trade pratices".
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TPP which was negotiated by the Obama administration would signal a major U-turn by the Trump administration if it finally decides to re-enter the partnership.
The Trump administration may also renegotiate NAFTA, reports said.