White House considers re-joining Pacific trade pact

White House considers re-joining Pacific trade pact

White House considers re-joining Pacific trade pact

"If there's someone who's a master negotiator, it's President Trump, and he's in the process now of negotiations", Daines said. That boosted the S&P 500 and other stock indexes out of the gate.

Trump met with the lawmakers in between other meetings over his expected response to a chemical weapons attack in Syria, Sasse said. Trump authorized the USA trade representative Robert Lighthizer and the director of the National Economic Council Larry Kudlow to look into the possibility of re-joining such an agreement, more than year after withdrawing from the Trans-Pacific Partnership (TPP).

US President Donald Trump has asked top administration officials to look into rejoining talks on the Trans-Pacific Partnership, from which the US withdrew past year, rural legislators said.

U.S. President Donald Trump has asked trade officials to explore the possibility of the United States rejoining negotiations on the Pacific Rim agreement after he pulled out past year as part of his "America first" agenda.

If the US were to reenter the TPP, it would be a remarkable about-face for Trump, who repeatedly blasted the trade pact during his 2016 presidential campaign. She had earlier supported the TPP when she was secretary of state but backed away from it during the campaign.

Daines said Trump asked him Thursday to resend the letter he originally sent in February. But the go-ahead to try is much more than symbolic.

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Trump's request comes as he faces pressure from farm-state Republicans anxious that his protectionist trade policies could spiral into a trade war with China that would hit rural America.

Shares of Deere & Co. "We all understand and he understands that the consequences of a trade war would be potentially harmful, particularly to farmers and ranchers".

Among Dow Jones components with a big presence in China, Boeing (BA) rose 3.1%, Caterpillar (CAT) 2.3%, Cisco Systems (CSCO) 2.1%, Intel (INTC) 3.2% and Apple (AAPL) 1%.

During the exchange, Trump suggested the possibility of directing the Environmental Protection Agency to allow year-round sales of renewable fuel with blends of 15 per cent ethanol. The other countries include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Last month, those remaining countries pledged to move forward with the trade pact without the U.S. After Trump detailed the $50 billion worth of high-tech Chinese imports that would face 25% imports, China hit back last week.

Soybeans are a major US export crop to China, and as such the hardy legumes have found themselves in the middle of a bubbling trade war. There's a major first-mover advantage and United States companies will be left out.

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