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Donald Trump eyeing return to TPP tade pact: US Senators

Donald Trump eyeing return to TPP tade pact: US Senators

The apparent decision comes after the 11 other TPP countries went ahead last month and signed the pact in Santiago, Chile - without the United States. "It is good news that today the President directed Larry Kudlow and Ambassador Lighthizer to negotiate US entry into TPP", Senator Ben Sasse, a Nebraska Republican, said in a statement.

Lawmakers at a White House meeting on trade say that President Trump is eyeing a re-entry into the Trans Pacific Partnership after making the United States' exit from the trade pact one of the first items on his to-do list after taking office.

President Donald Trump instructed his top advisors to begin exploring how the US could join the Trans-Pacific Partnership (TPP) on Thursday, just one year after abandoning the trade pact he'd blasted throughout his presidential campaign as a "horrible deal" and a "disaster".

A week after escalating trade tensions with his threat to impose tariffs on an additional $100 billion in Chinese products, Trump said Thursday the two countries ultimately may end up levying no new tariffs on each other.

Roberts said he was "very impressed" that Trump instructed both Kudlow and Robert Lighthizer to explore the idea of rejoining TPP.

Trump is also reconsidering his stance on the behemoth trans-Pacific trade deal as he inches closer to a trade war with China. "The way the deal was structured was awful If we did a substantially better deal, I would be open to TPP".

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"I have to believe President Xi is smiling all the way to regional domination as a result of our pulling out of TPP".

In January, Mr. Trump told CNBC in an interview in Davos, Switzerland that he "would do TPP, if we made a much better deal than we had".

Fischer said that the president also discussed the importance of ethanol and the renegotiation of NAFTA with the president. "Rejoining the TPP would be a betrayal of American workers, and a step in the wrong direction". Sen Ron Johnson, R-Wis., was among a handful of senators who recently visited China to meet with government and business leaders there. He said China's theft of intellectual property has inflicted serious damage to US companies and threatens the country's future economic outlook.

The White House meetings came as an array of business executives and trade groups expressed concerns at a congressional hearing about the impact that tariffs will have on their business. The Pacific Rim trade deal was intended by the Obama administration as a way to counter China's influence, but Trump criticized the pact as a candidate and pulled the United States out of the pact in early 2017.

Associated Press writers Catherine Lucey, Jill Colvin, Paul Wiseman and Matthew Daly in Washington and James MacPherson in Bismarck, North Dakota, contributed.

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