President Trump is directing his top economic advisers to negotiate re-entering the Trans-Pacific Partnership, after pulling out of the trade agreement just one year ago.
Senator Charles E. Grassley, Republican of Iowa, stated in a tweet on Thursday the farm country senators who attended that the meeting had each voiced concerns about "nervousness among farmers" as of Chinese retaliation. "It is good news that today the President directed Larry Kudlow and Ambassador Lighthizer to negotiate USA entry into TPP", Senator Ben Sasse, a Nebraska Republican, said in a statement.
Senator Ben Sasse, " Republican of Nebraska, said that it was "good-news" which the president had directed his economic advisor, Larry Kudlow, and his trade, Robert Lighthizer, to explore re-joining the offer.
Brooke Singman is a Politics Reporter for Fox News. The Asian nation said listed USA soybeans and pork among its prime targets for proposed retaliatory duties.
Among those who supported the Trans-Pacific Partnership was Mr. Trump's nominee to head the state department, Mike Pompeo, who said during his confirmation hearing on Thursday that the United States needs "to be deeply engaged" in dealing with China. The pact, which was conceived as a counterweight to China's dominance in the region, had been negotiated under the Obama administration but never approved by Congress.
Eleven other Pacific Rim countries signed a sweeping trade agreement last month that came together after the USA pulled out.
No official word yet from the White House about the potential of reentering the agreement.
In his remarks on Thursday, Trump cited a speech by Chinese President Xi Jinping that the US president interprets as a signal China is about to open its markets to more USA goods.
Xi pledged a "new phase of opening up" Tuesday in a keynote address to the Boao Forum for Asia.
Daines said Trump asked him Thursday to resend the letter he originally sent in February.
"That would be very significant to put that to bed", Daines said. "Also, his enlightenment on intellectual property and technology transfers". The U.S. has accused China of unfairly subsidizing targeted sectors and forcing foreign companies to transfer technology in areas like robotics, aerospace and artificial intelligence. Tariffs placed on USA automotive imports to China don't match the lesser tariffs placed on Chinese imports to the U.S. The administration is also expected to release a separate list for the additional proposed tariffs covering $100 billion in imports from China.
Daines added that NAFTA negotiations are proceeding well.
Mr Trump said to "take a look at getting us back into that agreement, on our terms of course", Mr Thune said.