>> He's called it a terrible deal, bad for American workers, job killing, and a fraud. But now, President Trump may want the US to reenter the Trans Pacific Partnership, also known as->> TPP, TPP they wanna approve, a disaster.>> Pulling the US out of the TPP was one of Trump's first acts as President.
But during an agricultural round table with governors and members of Congress Thursday, Trump seemingly was open to the idea of reentering the agreement. After the meeting, Republican lawmakers from farm states applauded the development.>> I was very impressed with that he has assigned Larry Kudlow and Bob Lighthizer the task to see if we couldn't take another look at TPP.
And that certainly would be good news all throughout farm country.>> The TPP is aimed at cutting trade barriers in some of the fastest growing economies of the Asia Pacific region and was designed as a way to counter China's growing economic dominance. The original 12 member deal was thrown into limbo early last year when Trump withdrew, but the other members went ahead with TPP anyway.
And if Trump does want back in, Reuters David Lotherick explains, it's not that easy.>> It's not just a matter of sort of getting back into TPP and claiming our spot. The other countries who are in TPP led by Japan and Mexico and Canada have gone ahead and forged their own version of what the original Trans Pacific Partnership agreement was to be all about.
But it's not as favorable for the US. They were to come back, it would be a much more longer, drawn out set of negotiations for all the other eleven countries to wanna agree to the US terms.>> Now a possible change of heart from Trump as the US engages in a high stakes dispute with China over trade.
Just Thursday, China warned it would not hesitate to fight back if the US went ahead with the threatened tariffs.