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Japan welcomes US shift on TPP, but says difficult to renegotiate

US President Donald Trump is willing to explore re-entering the Trans-Pacific partnership trade deal, while emphasizing that Washington should receive the original terms. Toshimitsu Motegi, Japan's minister in charge of TPP feels President Trump is correctly appraising the significance and effects of the TPP, it's something that would want to welcome. However, he added that the 11 participating countries share the thinking that it would be extremely difficult to take out part of the TPP and renegotiate or change it. Japan wants to ascertain Trump's thoughts on trade policy through a summit between the US leader and Prime Minister Shinzo Abe in Florida next week. Trump directed US Trade Representative Robert Lighthizer and Larry Kudlow, director of the National Economic Council, to look into rejoining the pact. The US withdrawal from the TPP shortly after Trump's inauguration last year made Japan the largest of the 11 Pacific Rim economies left in the deal. Those countries signed a new version last month that had been revised to account for the US absence. Finance Minister Taro Aso suggested that Trump's shift on the pact should be approached with caution as Trump can be temperamental and might say something different the next day. The shift comes amongst a developing trade dispute between the United States and China, which did not take part in the TPP.The 10 other TPP members are Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

 
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