Trump says he would consider Trans-Pacific Partnership with 'better deal'

President Donald Trump said Thursday that he would consider re-entering the Trans-Pacific Partnership trade pact if he got a “substantially better” deal.

Trump, who withdrew the U.S. from the agreement by executive order in one of his first acts as president, made the comments about the trade deal to CNBC on the sidelines of the World Economic Forum in Davos, Switzerland.

“I would do TPP if we made a much better deal than we had. We had a horrible deal,” he said. “I would do TPP if we were able to make a substantially better deal. The deal was terrible, the way it was structured was terrible. If we did a substantially better deal, I would be open to TPP.”

He also called NAFTA a “horrible” deal, and reiterated that his administration is “renegotiating it.”

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Trump administration takes Davos by storm
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Trump administration takes Davos by storm
U.S. President Donald Trump arrives at the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Carlos Barria
(L-R) U.S. Secretary of State Rex Tillerson, National Security advisor Herbert Raymond McMaster, Senior Advisor Jared Kushner and assistant for economic policy Gary Cohn attend U.S. President Donald Trump's and Israeli Prime Minister Benjamin Netanyahu's meeting during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria
U.S. President Donald Trump waves as he arrives for the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump arrives for the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump pose for photos as he arrives at the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump meets with Britain's Prime Minister Theresa May during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria
U.S. President Donald Trump shake hands with Britain's Prime Minister Theresa May during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria
U.S. President Donald Trump shakes hands with Israeli Prime Minister Benjamin Netanyahu during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria
U.S. President Donald Trump speaks with Israeli Prime Minister Benjamin Netanyahu during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria
Hands of the U.S. President Donald Trump are seen as he meets with Israeli Prime Minister Benjamin Netanyahu during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018 REUTERS/Carlos Barria
U.S. President Donald Trump gestures during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump shakes hands with Klaus Schwab, Founder and Executive Chairman of the WEF, during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump gestures as he talks with Klaus Schwab, Founder and Executive Chairman of the WEF, during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump and Klaus Schwab, Founder and Executive Chairman of the WEF, look on during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Carlos Barria
US President Donald Trump watches a band leaving the stage after a ceremony and before delivering his speech during the World Economic Forum (WEF) annual meeting on January 26, 2018 in Davos, eastern Switzerland. / AFP PHOTO / Fabrice COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)
U.S. Secretary of State Rex Tillerson is seen during a meeting of U.S. President Donald Trump and President Alain Berset of Switzerland, as they attend the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Carlos Barria
U.S. President Donald Trump looks on as he meets President Paul Kagame of Rwanda (unseen) during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Carlos Barria TPX IMAGES OF THE DAY
U.S. President Donald Trump meets President Alain Berset of Switzerland during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Denis Balibouse
U.S. President Donald Trump meets President Paul Kagame of Rwanda during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Carlos Barria
U.S. President Donald Trump arrives at the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 26, 2018. REUTERS/Carlos Barria
U.S. Secretary of State Rex Tillerson (C) looks on as President Donald Trump dinners with business men and CEO's during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Carlos Barria
U.S. President Donald Trump attends a dinner with business men and CEO's during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. Siemens CEO's Joe Kaeser (2nd-L) looks on. REUTERS/Carlos Barria
U.S. President Donald Trump speaks with Israeli Prime Minister Benjamin Netanyahu during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Carlos Barria
Attendees takes pictures of U.S. President Donald Trump during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS/Denis Balibouse
A television screen displays U.S. President Donald Trump delivering a speech during a special address on the closing day of the World Economic Forum (WEF) in Davos, Switzerland, on Friday, Jan. 26, 2018. World leaders, influential executives, bankers and policy makers attend the 48th annual meeting of the World Economic Forum in Davos from Jan. 23 - 26. Photographer: Simon Dawson/Bloomberg via Getty Images
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"We're trying right now with Bob Lighthizer and the whole group — I think we have a good chance, but we'll see what happens," Trump said, referring to the U.S. trade representative.

Trump made withdrawing the U.S. from trade pacts that he said were harming American workers a key promise of his campaign. He targeted the Trans-Pacific Partnership, a free-trade agreement with 11 other countries, because he claimed it would contribute to manufacturing job losses.

Just days into his presidency, Trump signed an executive order formally withdrawing the U.S. from the partnership, which had been back by President Barack Obama as a way to strengthen economic ties with Asian nations. It was never ratified by Congress.

But the 11 other countries in the partnership have remained committed to the pact, negotiating their own deal and leaving the U.S. out.

Renamed “the Comprehensive Progressive Agreement for the TPP,” the 11 countries — Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam — reached their deal this week and intend to sign it at a meeting in Chile in March.

Canadian Prime Minister Justin Trudeau used his speech at the World Economic Forum to tout the new pact, calling it “the right deal.”

Trump — the first sitting president to attend the annual Davos gathering of the global economic elite in nearly 20 years — insisted that his visit did not contradict his “America First” message.

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President Trump travels to Davos for World Economic Forum
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President Trump travels to Davos for World Economic Forum
U.S. President Donald Trump waves as he arrives in Zurich, Switzerland January 25, 2018. REUTERS/Carlos Barria
U.S. President Donald Trump waves as he arrives in Zurich, Switzerland January 25, 2018. REUTERS/Carlos Barria
U.S. President Donald Trump arrives in Zurich, Switzerland January 25, 2018. REUTERS/Carlos Barria
A Boeing 747 aircraft which serves as Air Force One, landed with of U.S. President Donald Trump aboard at Zurich airport, Switzerland January 25, 2018. REUTERS/Arnd Wiegmann
A Boeing 747 aircraft which serves as Air Force One, landed with of U.S. President Donald Trump aboard at Zurich airport, Switzerland January 25, 2018. REUTERS/Arnd Wiegmann
A Boeing 747 aircraft which serves as Air Force One, landed with of U.S. President Donald Trump aboard at Zurich airport, Switzerland January 25, 2018. REUTERS/Arnd Wiegmann
Helicopters of the U.S. Air Force roll to take-off position after the arrival of U.S. President Donald Trump at Zurich airport, Switzerland January 25, 2018. REUTERS/Arnd Wiegmann
EDITORS NOTE: Graphic content / US President Donald Trump smiles as he arrives on January 25, 2018 in Zurich en route to the World Economic Forum in Davos. Trump was transferring to a helicopter to complete the journey to the Alpine village, where the world's political and business elite are anxious to hear what the president intends to say about his 'America First' agenda. / AFP PHOTO / Nicholas Kamm (Photo credit should read NICHOLAS KAMM/AFP/Getty Images)
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“When I decided to come to Davos, I didn’t think in terms of elitist or globalist. I thought in terms of lots people that want to invest lots of money, and they’re all coming back to the United States,” he said. “After I said that I was going, there were massive stories about ‘the elite’ and ‘the globalists’ and the planes flying in and everything else. It’s not about that, it’s about coming to America, investing in money, creating jobs, companies coming in.”

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