Indiana Could Benefit If US Rejoins TPP Negotiations

Japan's Finance Minister Taro Aso answers a question during an upper house parliamentary session in Tokyo

Japan's Finance Minister Taro Aso answers a question during an upper house parliamentary session in Tokyo

"I don't think we can get back into the TPP soon enough", Johnson said when talking to reporters about the trip.

Although the White House insists the U.S.is not in a full-blown trade war with China, Beijing proposed tariffs on 106 American imports, including soybeans, corn, wheat and a number of fruits in response to Washington's plans to place tariffs on $50 billion of Chinese goods.

"Putting it simply, joining TPP is the best way to avoid a potentially devastating loss of wheat sales to Japan", said Michael Miller, chairman of US Wheat Associates and a wheat farmer from Ritzville, Washington.

WHY: President Trump believes that American food producers have not been treated fairly on the global stage and has committed to levelling the playing field for America's farmers.

Trump had remained sharply critical of the pact and said that he would instead negotiate trade agreements one on one, a tactic he says gives the United States better leverage over its trading partners.

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Japan's Kyodo News service reported that Finance Minister Taro Aso cautioned that Trump "can be temperamental and might say something different the next day". Malaysia's International Trade and Industry Minister Mustapa Mohamed echoed these remarks, saying that renegotiation would "alter the balance of benefits for parties".

Donald Trump and Hillary Clinton didn't agree on much during the 2016 campaign, but they did agree that the US should not participate in the Trans-Pacific Partnership (TPP). Countries such as China have not played fairly when it comes to trade in agricultural products.

The two countries ultimately might end up levying no new tariffs on each other, he said.

While the news should be music to the ears of trade organizations such as the Footwear Distributors & Retailers of America and the American Apparel & Footwear Association - which both made an aggressive push for the U.S.to remain in the agreement past year - FDRA president and CEO Matt Priest said he's holding off on a full-on celebration.

"I want to emphasize that these strikes are directed at the Syrian regime", he said.

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A senior administration official said "what you've seen tonight is not the end of the United States response".

The S&P 500 Index closed up 0.8% and the Dow Jones Industrial Average added nearly 300 points, or 1.2%, as investors assessed the changing trade dynamics. For instance, ranchers in Australia can send beef to Japan more cheaply than ranchers in the US.

Inside his first week in workplace, the president signed an govt order withdrawing the US from the pact, after persistently railing in opposition to it on the marketing campaign path. The pact, which was conceived as a counterweight to China's rising economic power in the region, had been negotiated under the Obama administration but never approved by Congress. Ben Sasse of Nebraska after meeting with President Trump April 12.

Negotiating a new pact could take years. AFL-CIO President Richard Trumka, head of the main trade union group, said on Twitter that TPP "was killed because it failed America's workers and it should remain dead". "And that includes what they're going to buy for genetic stock."Republicans and Democrats in farm-state legislatures in the Midwest are urging the president to tread carefully, warning him of the potential consequences of a trade war".

When President Trump ordered the USA withdrawal from TPP trade negotiations in January 2017, the deal was widely seen as catering to American interests, given that US negotiators helped shape the deal since 2008.

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