Trump considering to re-enter TPP trade agreement

The United States President Donald Trump on Thursday said that he would consider re-entering the Trans-Pacific Partnership (TPP) trade agreement, if the terms were more favourable to the US.

"I would do TPP if we were able to make a substantially better deal," said Trump.

The US President had signed an executive order in January last year to withdraw his country from the trade agreement because he said "it was not good for the American workers and manufacturing", The Hill reported.

Canadian Prime Minister Justin Trudeau on Tuesday announced that Canada and 10 other countries would form a new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which would work towards creating a revised trade agreement.

However, the revised trade agreement does not include the US.

For better trading relations and to reduce dependence on Chinese trade, the CPTPP was signed on February 4 last year, along with the United States.

After US' withdrawal, it now includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.