"The U.S. standard is 75 years, and the other countries accepted the U.S.in the TPP, but now they've reversed to the standard 50".
The Trans-Pacific Partnership is created to open up free trade between the countries involved, making them less reliant on China.
Exporters, such as farmers, have said they are now concerned that the U.S. will be at a disadvantage to competitors in the region.
Australia's trade minister, Steven Ciobo, said that with a deal already in place, he "can't see that all being thrown open to appease the United States".
Thursday morning, President Trump revealed that he has directed his administration to look into rejoining the Trans Pacific Partnership trade agreement, indicating an extreme U-turn in his position and rhetoric around the TPP deal itself and worldwide trade overall. "We'll put a team together, but we haven't even done-I mean, it just happened a couple of hours ago", said Larry Kudlow, Trump's top economic adviser.
Toshimitsu Motegi, Japan's minister in charge of TPP, also said it would be hard to change the deal, calling it a "balanced one, like fine glassware".
US Commerce Secretary Wilbur Ross later said the administration needs to see concrete actions from China to reach a deal.
The remarks were another conciliatory signal from the administration following tit-for-tat tariffs proposals from the world's two largest economies that rattled markets. But, that also depends on how the negotiations move forward. For instance, ranchers in Australia can send beef to Japan more cheaply than ranchers in the US.Читайте также: New Trailer for 'Solo: A Star Wars Story' Released
The pact, which was conceived as a counterweight to Beijing's rising economic power in the region, had been negotiated under the administration of former US president Barack Obama, but never approved by US Congress.
Withdrawing from the deal was one of Mr Trump's first acts as president, delivering one of his core campaign promises.
Mr Trump made the commitment while meeting politicians from farming states, who are among those concerned about a trade war, senators say. Ratification of the CPTPP is expected this spring, and the trade partners could consider adding new members not long after.
The news infuriated labor unions and many working-class supporters of the president.
"You'd need a whole renegotiation", he said.
The 11 remaining nations represent 13% of global output and include Japan and Canada.
"The best thing the United States can do to push back against Chinese cheating now is to lead the other eleven Pacific nations that believe in free trade and the rule of law".
One of the White House officials said that while the president prefers negotiating bilateral trade deals, a multilateral deal with the TPP countries would counter Chinese competition and would be faster than negotiating one-on-one with each of the 11 other nations.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.