DAVOS, Switzerland — U.S. President Donald Trump on Thursday said he would rejoin the Trans-Pacific Partnership trade deal, which he decided to exit back in January 2017, if “we made a much better deal than we had.”
The 11 remaining TPP members just Tuesday set a date for signing a revised version of the deal. Trump had previously refused to rejoin the trade pact despite repeated calls by Japanese Prime Minister Shinzo Abe, choosing instead to focus on bilateral agreements. But he appears to have changed tack amid pressure from U.S. business leaders.
The U.S. could press Japan to increase imports of American beef and automobiles. If the Abe administration decides to renegotiate the terms with the U.S., it will have to coordinate again with various industry groups and others. Some believe that the U.S. will demand the inclusion of a foreign exchange provision in the pact to prevent a weakening of trading partners’ currencies.