Trump orders will pull out of TPP, call for new NAFTA

[NightHawkeye]

Report: Trump orders will pull out of TPP, call for new NAFTA

President Trump plans to sign two executive orders Monday announcing his intention to renegotiate the North American Free Trade Agreement and pull the United States out of the Trans-Pacific Partnership.​

Trump begins withdrawing US from Trans-Pacific Partnership

President Trump signed a notice of intent to withdraw from the Trans-Pacific Partnership Monday, kicking off the highly-anticipated process of withdrawing the U.S. from a trade deal that has become deeply unpopular among his supporters.
...
The trio of orders Trump signed on Monday marked the next step in the first major wave of actions of his presidency.

On Friday, Trump issued a regulatory freeze and instructed his agencies to stop enforcing aspects of Obamacare.​

 

[essentialsaltes]

US farmers are bracing to lose as CPTPP rolls out

Donald Trump’s confrontational trade policy has already cost American farmers billions of dollars in lost sales due retaliatory tariffs imposed by China. Now they’re bracing for a different kind of loss: missing out on tariff reductions and other perks under a massive new trade deal among Pacific Rim nations.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will go into effect on Dec. 30 for six of its 11 members, Australia, Canada, Japan, Mexico, New Zealand, and Singapore. A seventh, Vietnam, will join them Jan. 14. (The remaining countries, which have already signed the deal, still have to ratify it internally.)

By 2020, US wheat will cost $70 per ton more than its competitors.

Well, I certainly hope that Trump has made bilateral agreements with these countries that are even BETTER than TPP would have been.

Donald Trump withdrew the US from the deal shortly after taking office, saying it would hurt American workers. He now wants to negotiate a bi-lateral deal with Japan, but talks haven’t yet started.

Whoops.

 

[essentialsaltes]

Trump left our allies at the altar. Now he’s mad they’re moving on.

Disappointed that we’d reneged, the remaining 11 TPP countries nonetheless decided to continue without us. Their new deal, sometimes called TPP 2.0, formally went into effect on Dec. 30, 2018. Just over a month later, Japan’s new trade deal with the European Union became effective.

This means that dozens of other countries now benefit from changes we persuaded Japan to make. And our farmers are about to lose out, big time.

Japan’s beef imports were already up 25 percent in the first two months of 2019 compared with a year earlier, as the Wall Street Journal recently reported. The biggest beneficiaries were Canada and New Zealand. This makes sense: As members of TPP 2.0, they have a huge price advantage. U.S. beef is tariffed at 38.5 percent, and TPP 2.0 countries’ beef is now at 26.6 percent, with further reductions slated for coming years.

With U.S. farmers quietly freaking out, pressure is mounting to seal a new bilateral trade deal with Japan. But rather than coming to Japan hat in hand, we’re scolding it for keeping its word when we could not be bothered to do the same.

“By implementing these agreements before addressing our bilateral trade relationship, Japan is effectively redistributing market share away from its strongest ally, the United States,” the U.S. ambassador to Japan, William Hagerty, told Nikkei.

 

[Speedwell]

The Donald apparently thinks that farmers will vote for him anyway because they care more about abortion, gay marriage and illegal immigrants than they do about making a living.

 

[Desk trauma]

The Donald apparently thinks that farmers will vote for him anyway because they care more about abortion, gay marriage and illegal immigrants than they do about making a living.

Sadly owning the libs is starting to outweigh any kind of logic.

 

[essentialsaltes]

Sadly, the farmers keep singing the same sad tune:

LA Times story from today:
American farmers have long voted mostly Republican and are an important part of Trump’s rural base of supporters. Scott Henry, a third-generation Iowa soybean farmer, says he’s willing to wait for a bit longer but is getting increasingly anxious.

“Your pleas for patience start to fall on deaf ears,” the 29-year-old says of Trump and others in his administration. “If you’re going to ask for our vote again, at what point do we continue to trust you?”

Then there's a link to an LA Times story from last August:

One thing hasn’t changed: his support for Trump, whom Saathoff credits for taking China to task for its unfair trading behavior. He and some of his fellow farmers are willing to give the president more time to win concessions, betting that Trump won’t let things get really bad for American soybean farmers, who export about one-fourth of their crops to the Chinese market. But he also warned that their patience won’t last forever.

 

[Aryeh Jay]

This just means more food for Americans! It is a Trump win for our Nation!! We will see who Canada and New Zealand come begging to when they are all out of food. HA! HA! HA! Trump is playing 6th dimension Space Chess and the rest of the world is playing Checkers!! SAD!!

 

[Gigimo]

One thing hasn’t changed: his support for Trump, whom Saathoff credits for taking China to task for its unfair trading behavior. He and some of his fellow farmers are willing to give the president more time to win concessions, betting that Trump won’t let things get really bad for American soybean farmers, who export about one-fourth of their crops to the Chinese market. But he also warned that their patience won’t last forever.

Right now China is having issues with African Swine Fever infecting it's hog population which is the principal source of dietary protein in China. The Chinese think that part of the problem may be the food source for the pigs which includes the soybeans they themselves grow. If this is true they may up imports of soybeans until they can get a handle on what is causing the issue with their own crops. I realize planting time is the same for both countries so the decision will have to be made soon.