Trump opposes US rejoining Pacific trade deal

Trump opposes US rejoining Pacific trade deal

President TrumpDonald John TrumpTrump reversed course on flavored e-cigarette ban over fear of job losses: report Trump to award National Medal of Arts to actor Jon Voight Sondland notified Trump officials of investigation push ahead of Ukraine call: report MORE on Tuesday said he's opposed to the U.S. re-entering the Trans-Pacific Partnership (TPP), and instead advocated for establishing bilateral trade deals with countries.

“While Japan and South Korea would like us to go back into TPP, I don’t like the deal for the United States. Too many contingencies and no way to get out if it doesn’t work,” Trump tweeted.

He added that bilateral deals between two nations are “far more efficient, profitable and better” for American workers.

His latest comments come as the White House has downplayed the possibility of the U.S. rejoining the TPP, which 11 other Pacific Rim nations signed in March.

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Top White House economic adviser Larry Kudlow said Tuesday there are “discussions and considerations” about re-entering TPP talks, but added that “there is nothing at all concrete.” 

Kudlow said “it has to be in U.S. interest for us to take another look and actually go into it” and that “the president believes it is not presently in U.S. interest to sign it.”

Trump last week directed Kudlow and the U.S. trade representative to look into joining talks for the trade partnership.

Japanese Prime Minister Shinzo Abe is meeting with Trump on Tuesday and Wednesday at the president's Mar-a-Lago resort in Florida. Trade is expected to be one of the main areas of discussion between the two leaders. Japan is a member of the TPP.

Trump said last week his administration is working to establish a bilateral deal with Japan, and argued the island nation "has hit us hard on trade for years!"