Australian Prime Minister Malcolm Turnbull, standing alongside Vice President Mike Pence, said Saturday that the U.S. had the right to end its participation in the Trans-Pacific Partnership and that “each nation is committed to protecting its economic interests first and foremost,” while Pence reiterated the U.S. “America-first” policy and the administration’s preference for bilateral trade deals.
Japanese Deputy Prime Minister Taro Aso this week offered “no guarantee” the United States will strike a better deal with Tokyo if it chooses to pursue a bilateral trade agreement, stressing that U.S. gains with Japan in the 12-nation Trans-Pacific Partnership depended on other countries “balancing out the gains and losses.”
The decision is expected to set an EU-wide precedent for whether other trade agreements, including TTIP, will need member state approval.
The U.S.-Japan Economic Dialogue may produce work that eventually leads to the negotiation of a bilateral free trade deal between the two countries, Vice President Mike Pence said in Tokyo today alongside Japanese Deputy Prime Minister Taro Aso following the first meeting of the economic dialogue.
“President Trump talks about America first, but in our case, America first means that we're selling wheat and cattle and corn around the globe.”
“These agreements should be pursued on a priority basis.”
In recent weeks he has come under fire from opponents of the Asia-Pacific deal.
Industry officials, trade analysts and a key Obama administration digital trade negotiator on Thursday warned that the U.S. must quickly work with trading partners to secure digital trade rules in trade agreements that are at least as ambitious as those agreed to in the Trans-Pacific Partnership.
Chilean Foreign Affairs Minister Heraldo Muñoz writes in the New York Times that last month's Viña del Mar meeting “has set us on our way.”
A draft notice of the Trump administration's intent to renegotiate the North American Free Trade Agreement includes language on investment, intellectual property and state-owned enterprises that closely tracks with achievements the Obama administration claimed it made negotiating the Trans-Pacific Partnership.
U.S.-Japan Caucus co-chairs Reps. Dave Reichert (D-WA) and Joaquin Castro (D-TX) voiced support Monday evening for expanding trade with Japan without taking a stance on what shape a potential agreement would take. Japan is still cool to the idea of a bilateral free trade agreement following the U.S. decision to abandon the Trans-Pacific Partnership, sources have told Inside U.S. Trade.
“We are all watching how things will develop.”
The United States is interested in integrating into bilateral trade agreements some standards negotiated in the Trans-Pacific Partnership, according to Chile’s ambassador to the United States.
The former USTR, in Japan, says the deal “will make its way into effect, in one form or another.”
President Trump's U.S. Trade Representative nominee, Robert Lighthizer, believes a renegotiation of the North American Free Trade Agreement would build on commitments made by Canada and Mexico in the Trans-Pacific Partnership, and could go beyond them in some key areas, he told the Senate Finance Committee in questions for the record following his confirmation hearing last week.
VINA DEL MAR, CHILE -- The U.S. ambassador to Chile and a bipartisan group of congressional aides who attended the High-Level Dialogue on Integration Initiatives in the Asia-Pacific Region sought to reassure the 14 other participating countries that it is open to expanding trade, but most countries showed an inclination to move forward with multilateral arrangements despite the U.S. preference for bilateral deals, officials and sources said here.
VINA DEL MAR, CHILE -- New Zealand’s trade minister Todd McClay says he is not concerned about Auckland’s trade relationship with the U.S. under President Trump, but believes it is too early to speculate about the potential for a bilateral deal.
VINA DEL MAR, CHILE -- The United States did not attend a working breakfast meeting for Trans-Pacific Partnership countries on Wednesday, despite being invited, according to officials here.