President Trump wasted no time in fulfilling one of his campaign promises – to withdraw the United States from the Trans-Pacific Partnership (TPP), the twelve nation trade accord signed almost a year ago.
The move not only signals a step back from Obama’s “Asia pivot” but removes opportunities for recyclers to capture new opportunities had the agreement lowered tariffs and reduced cumbersome import processing. Trump is also considering how to proceed with a campaign promise to reopen the North American Free Trade Agreement (NAFTA) (a border wall, notwithstanding) and has reached out to a number of countries for bilateral trade deals, including the UK, Germany, Japan, Malaysia and New Zealand. These new agreements could create good market access opportunities for U.S. scrap, but they will take a number of years to negotiate and implement. ISRI is watching these developments closely, especially what might be the specific implications for our members if a renegotiated NAFTA impacts the physical movement of scrap between the three countries (especially between the U.S. and Mexico). ISRI is appealing to paper scrap producers to keep us informed of any immediate impact on your business, and we welcome insights into your cross-border trade so as to better advocate for your interests. For more information, please contact Adina Renee Adler.