The White House is now scrambling to undo the damage of Trump’s swift withdrawal from what would have been the world’s largest regional trade agreement.
President Trump and Japanese Prime Minister Shinzo Abe shake hands during a meeting at Trump's Mar-a-Lago club in Palm Beach, Fla., on April 17, 2018. Trans-Pacific PartnershipTrump derided the pact as a bad deal for America. But leaving it hasn’t turned out that well either.The remaining 11 members proceeded anyway, slashing tariffs and leaving U.S. businesses at a significant competitive disadvantage.
While Trump was busy slapping tariffs on China and other countries, Japan also concluded a pact with the European Union that lowered duties and other barriers to ease trade flows. Between the EU and Asia-Pacific, Japan is now starting to import substantially more from its free-trade partners, at America’s expense. That’s bad for U.S. farmers who were already reeling from“Give us some relief.
Lighthizer and the Japanese economy minister, Toshimitsu Motegi, launched the trade talks last week, and were meeting again on Thursday ahead of Abe’s visit with Trump.cultivate relations with Trump The Japanese plan has been “to get Abe in front of Trump, flood the zone and keep the president thinking about Japan and liking Abe on a personal level,” said Michael J. Green, senior vice president and Japan chair at the Center for Strategic and International Studies.
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