Trump left our allies at the altar. Now he's mad they're moving on. [View all]
Trump left our allies at the altar. Now he’s mad they’re moving on.
By Catherine Rampell at the Washington Post
https://www.washingtonpost.com/opinions/trump-left-our-allies-at-the-altar-now-hes-mad-theyre-moving-on/2019/04/22/fbccc7e8-653b-11e9-82ba-fcfeff232e8f_story.html?utm_term=.0d1a31059603
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President Barack Obama signed the TPP in 2016. But Congress dragged its feet in ratifying it. Among President Trump’s first actions after his inauguration was to pull us out of the deal, with generally incoherentreasons for doing so.
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.
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