U.S. President Donald Trump says he would prefer a bilateral trade deal with Japan instead of rejoining an 11-nation Pacific Rim trade pact.

But Trump says if he's offered "a deal we can't refuse," he would be willing to re-enter the Trans-Pacific Partnership.

Trump said Wednesday during a joint news conference in Florida with Japanese Prime Minister Shinzo Abe that if he could reach a new trade deal with Japan he would discuss removing tariffs on steel and aluminum imports.

But he says the U.S. is still dealing with a massive trade deficit with Japan.

Abe says Japan's position is that the TPP is best for the nations involved, but the U.S. has said it wants a bilateral trade deal.