Malaysia says 'No' to U.S. renegotiation


Government officials from the participating countries also do not seem too hot on the idea of the the TPP, citing in particular the difficulty of re-negotiating an agreement that already took years to finalize.

Friday morning, President Trump expanded on the conditions for getting back into TPP.

The Trans Pacific Partnership, a deal Trump once described as a "rape of our country", is a multicountry trade agreement in which the USA participated under President Obama.

Trump had tweeted that the USA would only join TPP if the deal were substantially better than the deal offered to former president Barack Obama.

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 previous year as part of his "America first" agenda.

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Comparing the multicountry trade agreement to "a glasswork", Yoshihide Suga, Japan's chief cabinet secretary, cautioned against any efforts to change it to accommodate Trump.

"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", Australia Trade Minister Steven Ciobo said Friday. "This whole trade thing has exploded", Mr Kudlow said. Trump later tweeted that he'd only join the Trans-Pacific Partnership (TPP) if it were "substantially better than the deal offered" to President Barack Obama. "I think they want to". "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!"

The remarks were another conciliatory signal from the administration following tit-for-tat tariffs proposals from the world's two largest economies that rattled markets. He has previously said he might reconsider the deal.

International Trade and Industry minister Datuk Seri Mustapa Mohamed says the Comprehensive and Progressive Agreement for Trans-Pacific Partnership renegotiation will take a long time and alter the balance of benefits for parties.

China's aggressive response to Trump's tariffs is aimed squarely at goods produced in the US heartland, a region that helped send him to the White House.

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The deal, negotiated by the Obama administration, was largely intended as a tool to prod China into making economic changes that the USA and others have long wanted.

"He looked right at Larry Kudlow and said, 'Larry go get it done, '" Senator Ben Sasse told reporters after the meeting.

Republicans in Congress have also been skeptical of Trump's tendencies on trade, and 25 Republican senators sent a letter to Trump urging him to re-engage with the pact "so that the American people can prosper from the tremendous opportunities that these trading partners bring".

Members of the partnership, including officials from Japan and Australia, seemed hesitant to accept Trump's possible change of heart.

"When the US walked away, they dropped a lot our intellectual property provisions and labor provisions that made the agreement really important", he said.

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Trump's election campaign in 2016 opposed multilateral trade pacts and argued bilateral deals offered better terms for U.S. businesses and workers.