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13 April 2018, 01:46 | Marta Robbins
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Roberts says it would be "good news all throughout farm country".
A week after escalating trade tensions with his threat to impose tariffs on an additional $100 billion in Chinese products, Trump said Thursday the two countries ultimately may end up levying no new tariffs on each other. It would be aimed at opening US farmers to more overseas markets.
In a CNBC interview in January, Trump said, "I would do TPP if we were able to make a substantially better deal".
A year later while speaking at the World Economic Forum in Davos, Switzerland, Trump expressed interest in renegotiating the TPP or coming to individual deals with the various countries involved in the trade partnership.
Trump is seeking to reassure the lawmakers on proposed China tariffs.
The Nebraska Senator cautioned however that "The president is a guy who likes to blue-sky a lot and entertain a lot of different ideas, but he multiple times reaffirmed the point that TPP might be easier for us to join now".
The president has mused publicly about rejoining the deal before, suggesting he would re-enter if he could negotiate more favorable terms.
President Trump to Look at Re-Entering Trans-Pacific Partnership
The U.S. International Trade Commission, an independent federal agency, has projected in 2016 that TPP would increase economic growth and create jobs, but the gains would be small: After 15 years, the deal would add just 128,000 jobs, an increase of less than a tenth of 1 percent.
The president says China has consistently treated US agriculture unfairly and his administration is "changing things with respect to trade".
The White House meeting was aimed at appealing to the Midwest lawmakers at a time of high anxiety because of the China trade dispute.
Reuters reported that Trump talked of lifting the summertime ban on E15, which is limited due to concerns about smog. Critics of the President's decision to pull the U.S. from the deal have argued that the United States would have more leverage in a trade dispute with China if the USA had remained in the Trans-Pacific Partnership.
But in recent months - even as he has erected tariffs on steel and aluminum imports and against China - the President has also begun to signal a willingness to reassess his stance on the Trans-Pacific Partnership. The Asian nation said listed USA soybeans and pork among its prime targets for proposed retaliatory duties.
The U.S. and China are in the early stages of what could be the biggest trade battle in more than a half century. Some signatories, however, agreed to rework it without the United States and it re-emerged this January under the name, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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