During the meeting last week with Republican lawmakers, the US President Donald trump said the Director of the National economic Council Larry Kudlow to consider possible rejoining of the agreement on the TRANS-Pacific partnership (TPP) trade.
Sputnik discussed the reversal of trump on the TPP with van Luc, senior Advisor to the President and senior Executive Vice President Bank for investment and development of Vietnam (bidv).
Companion: what do you think caused the trump directing his advisers to look at negotiations in the United States repeated in the TPP after the release of Washington last year?
Can van Luc: I think this is a positive step. We welcome him to the economic and political sense. However, trump noted on Twitter that this will only happen on terms that are more favorable for us than it was during the [former President Barack] Obama era. This means that they are committed to new talks. In addition, trump quite often changes his mind. Last year, he announced the U.S. withdrawal from the partnership, and now he is talking about new negotiations, and other countries just made a decision on the signing of the comprehensive and progressive agreement on the TRANS-Pacific partnership (CPTPP). This gives us the right to doubt the coherence and rigidity of the trump of his statements. But, as I said, we welcome this step, because the United States is an important partner in CPTPP in particular.
If we return, there will be 12 members CPTPP, which account for 40 percent of global GDP and 30% of world trade, compared with 10-13 percent as it is today. Obviously that’s a big contribution. Second, the partnership will be more influential with the participation of the United States. And finally, it will be more attractive to other countries.
Satellite: if we are to continue the agreement, do you think the structure and content of the CCI will change?
Can van Luc: I think it will be, but not dramatically. There are 20 items in CPTPP with a delay of acceptance and negotiation on four continues. They belong to the sphere of US interests, such as Intellectual property, environmental Protection, labour legislation and dispute resolution, in particular between governments and investors. Of course, if the US decides to return, the discussion of these proposals will be extended.
The United States also may require negotiations on the terms of trade in the areas of interest, such as agriculture and metallurgy. But I believe that completes the process will be quite long and stressful in this case.
Sputnik: it is believed that the United States made the decision to survive against China in a trade war. What do you think?
Can van Luc: it is difficult for us to judge a President trump intentions, but we can assume that it was his intention when he announced that the United States can enter CPTPP. This can be done in order to impose Additional conditions so that the US would benefit from a trade war with China now and in the future.
Sourse: sputniknews.com
