Trump says he would reconsider TPP under 'better deal'

Prime Minister Malcolm Turnbull says he does not believe the US will join the new TPP

But it's nearly certainly too late for the negotiate a new deal.

Trump said Thursday during an interview with us television network CNBC in Switzerland that he would consider rejoining the TPP under "substantially better" terms because the United States "had a disgusting deal".

"The deal was awful, the way it was structured was bad", Trump said Thursday on the sidelines of the annual meeting in Davos. "If we did a substantially better deal, I would be open to TPP".

Because of the withdrawal, ratification of the TPP became nearly impossible, and the 11 remaining nations have begun negotiations on a new agreement called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). He said he would pursue individual deals with the other countries.

But Motegi said the priority is for the remaining TPP members to quickly put the pact into force. Japan and Australia are now the effective leaders of the revised deal, which is likely to be signed in March. He pulled out of the deal last January, although it already had little chance of securing congressional approval even before he took office.

Trump's populist campaign partly blamed free-trade agreements for manufacturing job losses and companies relocating outside the United States.

"I like bilateral, because if you have a problem, you terminate", Trump said Thursday.

"We have negotiated successfully first the agreement with Europe, we're now working very hard on NAFTA, and we are very pleased to have been able to sign the new version of the TPP", he said.

The successful conclusion of negotiations on the CPTPP came in the same week that U.S., Mexican and Canadian officials returned to the table to discuss reworking NAFTA, the North American free trade pact.

What about NAFTA? "I think we have a good chance but we'll see what happens", he declared, as the sixth round of negotiations continue in Montreal.



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