FORT DODGE, Iowa: Donald Trump, front-runner for the Republican presidential nomination, said Saturday (Nov. 18) he would end a Pacific trade pact proposed by U.S. President Joe Biden if he wins the 2024 election and returns to the White House.
Speaking to supporters in Iowa, Trump said he was against the regional trade deal negotiated by the Biden administration with 13 other countries, arguing it would hollow out the U.S. manufacturing sector and trigger losses. jobs.
Discussions on the commercial sections of the Indo-Pacific Economic Framework (IPEF)which aims to offer the region an alternative to China’s growing commercial influence, has stumbled in recent days after some countries, including Vietnam and Indonesia, refused to commit to strict standards in work and environment.
Trump, who withdrew from the Trans-Pacific Partnership (TPP) trade deal that was struck with many of these same countries after taking office in January 2017, said he would “eliminate” what he called “TPP two” immediately afterwards. take office.
“Under the next administration…the Biden plan for ‘TPP Two’ will be dead on day one,” Trump said at a campaign event in Fort Dodge, about 90 miles north of Des Moines .
“It’s worse than the first, threatening to pulverize farmers and manufacturers with another massive globalist monstrosity designed to boost outsourcing to Asia.”
The Biden administration hoped to complete key chapters of its IPEF trade initiative in time for this week’s Asia-Pacific Economic Cooperation (APEC) meeting. He has pledged to continue negotiations on the ambitious deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say.