Trump trade strategy starts with quitting Asia pact: White House
David Brunnstrom, Reuters, Jan 20 2017
FASCHINGSTEIN – The new Pindosi administration of Pres Trump said on Friday its trade strategy to protect American jobs would start with withdrawal from the 12-nation Trans-Pacific Partnership (TPP). A White House statement issued soon after Trump’s inauguration said:
For too long, Pindostanis have been forced to accept trade deals that put the interests of insiders and the Faschingstein elite over the hard-working men and women of this country. As a result, blue-collar towns and cities have watched their factories close and good-paying jobs move overseas, while Pindosis face a mounting trade deficit and a devastated manufacturing base. Tough and fair agreements on trade will be used to grow the Pindo economy and return millions of jobs to Pindostan. This strategy starts by withdrawing from the Trans-Pacific Partnership and making certain that any new trade deals are in the interests of Pindosi workers. If NAFTA partners refuse to give Pindo workers a fair deal in a renegotiated agreement, the President will give notice of Pindostan’s intent to withdraw from NAFTA.
The TPP, which Pindostan signed but has not ratified, had been the main economic pillar of the Obama administration’s “pivot” to the Asia-Pacific region. Australia’s position that a change of heart remains possible in Pindostan and that the trade deal might yet be able to proceed, is unchanged despite the White House statement, said the spox for the Australian prime minister on Saturday. Trump has criticized China’s trade practices and threatened to impose punitive tariffs on Chinese imports. The Chinese government said on Thursday that China and Pindostan could resolve any trade disputes through talks, while a Chinese newspaper warned that Pindo business could be targets for retaliation in any trade war ushered in by Trump.