There is talk going around between high-ranking U.S. officials that there could be a possibility of the U.S. re-entering the Trans-Pacific Partnership (TPP). Could this option be solid footing in trade disputes with China?
Audio: World of Agriculture
Getting back into the Trans-Pacific Partnership could help the United States show a united front against China. U.S. Agriculture Secretary Sonny Perdue says he plans to suggest to President Trump we do just that.
Chief U.S. Ag Negotiator Greg Doud told Congress the United States has become too dependent on China for trade. Doud says it is a dependency which isn’t paying off for agriculture.
Of course, this all hinges on whether or not President Trump can be convinced. The President says he would only go back on his pledge to not enter TPP if the U.S. received an offer they couldn’t refuse.
Former U.S. Trade Advisor Paul Drazek says the refusal of China to negotiate on trade and the prompting of Japan and others for the U.S. to re-enter the TPP, may just be the boost we need in trade. It could also go a long way to shoring up the confidence of U.S. farmers.