Trump got slaps straight into his face by some members of the 11 nation Trans-Pacific Partnership today. While member countries welcomed Trump’s intention to consider rejoining, they made themselves clear that there will be no renegotiation. That is, take it or leave us alone.
Australia Trade Minister Steven Ciobo said today that “we welcome the U.S. coming back to the table but I don’t see any wholesale appetite for any material re-negotiation of the TPP-11.”
Japan Minister Toshimitsu Motegi said the current deal is a “balanced one, like fine glassware” and it would be difficult to change.
Malaysia International Trade and Industry Minister Mustapa Mohamed also warned that renegotiation would “alter the balance of benefits for parties.”
T11 include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam.
US withdrawn from TPP on 23 January 2017 after Trump signed a Presidential memorandum, less than a month he took office.
Earlier today, Trump tweeted, “Would only join TPP if the deal were substantially better than the deal offered to Pres. Obama. We already have BILATERAL deals with six of the eleven nations in TPP, and are working to make a deal with the biggest of those nations, Japan, who has hit us hard on trade for years!” That came after news that Trump ordered White House economic adviser Larry Kudlow and Trade Representative Robert Lighthizer to examine the benefits of re-entering TPP.
