President Trump says he doesn't like the US joining TPP

US President Donald Trump. Photo: Reuters

“While South Korea and Japan want us to rejoin TPP, I do not want the United States to join this agreement. There are too many uncertainties and no way out if it doesn’t work. Bilateral trade agreements work, benefit, and are better for our workers. Look how bad the WTO is for the United States,” Trump wrote on Twitter on April 17, referring to the World Trade Organization (WTO).

Trump’s announcement came as he met with Japanese Prime Minister Shinzo Abe during Abe’s visit to the US on April 17. The two leaders discussed a number of issues of mutual concern, including trade cooperation and North Korea’s nuclear weapons program. Abe is a strong supporter of the Trans-Pacific Partnership (TPP) and the current CPTPP.

On April 12, Mr. Trump directed his officials to consider the possibility of the United States joining the CPTPP. His move was supported by most members of the agreement. However, ministers from Japan, Australia and Malaysia refused to renegotiate the agreement to accommodate the US demands.

Since his presidential campaign, Donald Trump has strongly opposed the TPP. After taking office as US President last year, he withdrew the US from the agreement, calling it a “terrible” deal.

The remaining 11 economies – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam – then actively negotiated and came up with a new version called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This agreement was signed in Chile in early March 2018.