WASHINGTON — President Trump, in a sharp reversal, told a gathering of farm state lawmakers and governors on Thursday morning that he was directing his advisers to look into rejoining the multicountry trade deal known as the Trans-Pacific Partnership, a deal he pulled out of days after assuming the presidency.
Rejoining the 11-country pact could be a significant change in fortune for many American industries that stood to benefit from the trade agreement’s favorable terms and Republican lawmakers who supported the pact. The deal, which was negotiated by the Obama administration, was largely viewed as a tool to prod China into making the type of economic reforms that the United States and others have long wanted.
Both Democrats and Republicans attacked the deal during the president campaign, but many business leaders were disappointed when Mr. Trump withdrew from agreement, arguing that the United States would end up with less favorable terms attempting to broker an array of individual trade pacts and that scrapping the deal would empower China.
Republicans in Congress have also been skeptical of Mr. Trump’s tendencies on trade, and 25 Republican senators sent a letter to Mr. Trump urging him to re-engage with the pact “so that the American people can prosper from the tremendous opportunities that these trading partners bring.”
page took 0.0062 seconds to execute