Trump promises to end trade deal with Asia promoted by Biden if elected
Donald Trump, the favorite to win the Republican presidential nomination, said Saturday that would end a Pacific trade pact promoted by the president of the United States, Joe Biden, if he wins the 2024 elections and returns to the White House.
In a speech to his supporters in Iowa, Trump was against the regional trade agreement that the Biden Administration is negotiating with 13 other countries, arguing that it would destroy the American manufacturing industry and cause job losses.
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Talks on the trade sections of the Indo-Pacific Economic Framework (IPEF), which aim to offer the region an alternative to China's growing trade influence, have stalled in recent days after some countries, including Vietnam and Indonesia , They refused to commit to strict labor and environmental standards.
Trump, who withdrew from the Trans-Pacific Partnership (TPP) trade deal he had forged with many of those same countries after taking office in January 2017, said he would "eliminate" what he called "TPP Two" immediately after taking office. post.
"Under the next administration...Biden's plan for 'TPP Two' will be dead on day one," Trump said at a campaign event in Fort Dodge, about 94 miles (150 km) north of Des Moines.
"It's worse than the first, threatening to pulverize farmers and manufacturers with another massive globalist monstrosity designed to turbocharge outsourcing to Asia."
The government of Biden expected to finish key chapters of his IPEF trade initiative in time for this week's Asia-Pacific Economic Cooperation (APEC) meeting.
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Washington has pledged to continue negotiating the ambitious deal, but election-year pressures and some countries' resistance to making strict commitments make a deal unlikely, trade experts and business groups say.
With information from Reuters.
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