Trump has recently asked two economic aides to look explore the issue of re-entering the Trans-Pacific Partnership, originally created to counteract Chinese influence over various markets. In the original partnership deal, the 11 countries of the TPP suspended approximately 20 provisions, many of which benefited the U.S. If the TPP-11 are to see the United States return to the TPP, they will likely need to reinstate provisions extending the "length of copyrights, boosting intellectual-property protection for biologic drugs and reducing barriers for overnight delivery companies, like FedEx Corp," to entice the US to re-join. Negotiations are poised to be difficult as unanimous consent from all 11 nations is required to re-admit the United States. Trump may have to concede bits of his "better deal", something he referenced in a recent tweet regarding the manner. It is likely, that Trump is beginning to take the TPP more seriously as he aims to tighten his grip on trade with China
https://www.wsj.com/articles/u-s-s-re-entry-in-pacific-trade-deal-would-come-at-a-price-1523814894
4 comments:
I think the most important aspect of this news is that the TPP-11 don't necessarily need nor want the US to rejoin the deal, they're not trying to "entice the US to re-join the TPP." Like the Paris Climate Accord, the rest of the world has moved on and decided that they are able to become successful without the United States. Therefore, they don't feel the need to change anything to accommodate any change of heart on the part of the US, especially after the US has shown that it's unreliable in the long run of these sorts of negotiations. So while I would fully support the US negotiating the re-joining of the TPP, it's important to realize that not only are we, under any circumstances,not going to get a "better deal" than the previous one, we most likely will need to be the country to give concessions in return for the permission to join the existing deal -- not the TPP-11 giving concessions in exchange for the "blessing" of renewed US membership.
I agree, it will undoubtedly be a worse deal than when the TPP was first initiated. That is the price the US must pay for Trump, Sanders, and Clinton making the TPP a focal point of trade talk during the election campaign. Now, the TPP-11 has moved on and resolved to continue what they can until the US gets their pants back on.
I agree, and this shows that the campaign rhetoric about ending trade was just a way to pursue the America First idea at the expense of the American economy. The current administration has been acting like the US's economic and "moral" leadership (air quotes for mixed morality) in the international community is a given and not something we could lose if we continue to lash out at the rest of the world
TPP-11 is laughing at the United States. Disappointing to see this type of lacking leadership from the United States when we have the opportunity to create mutually beneficial trade relationships globally.
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