Trump has withdrawn the United States from the controversial TPP trade deal

January 24 06:17 2017

The real test on trade for President Trump is whether he secures trade agreements that put the environment, working families, and healthy communities first.

The deal had not yet been ratified and was considered dead on arrival once Trump won the presidential election. Throughout his electoral campaign, Trump fiercely criticised TPP – wherein Barack Obama was a firm supporter – claiming it was harmful to American workers and manufacturing. “The agreement that the TPP parties has negotiated is one such pathway to achieve stronger trade linkages that will promote growth opportunities and job creation in all the member countries”, she said.

Trump has repeatedly expressed his opposition to free-trade deals, and was also set to sign an order to renegotiate the North American Free Trade Agreement (Nafta) deal between the US, Canada and Mexico.

Trump signed an order to reinstate the Mexico City abortion rules banning the use of USA government funds to provide abortion as a method of family planning anywhere in the world. This would is major win for pro-life advocates, and signals Trump’s further commitment to the pro-life cause.

The TPP was formally signed by 12 Asia-Pacific countries – representing almost 40% of global GDP and one-third of world trade – in February a year ago. He later doubled down on his rhetoric: In a video message outlining his intentions when he takes office in January, Trump said that on the first day of his presidency he would issue a notification of intent to withdraw from TPP.

He also said he planned to hold meetings with American CEOs on a quarterly basis or whenever they wanted to in order to address their concerns.

Negotiators from 12 nations had concluded the TPP agreement in February 2015 after seven years of hard negotiations.

White House officials told CNBC the president would begin trade negotiations with individual countries in the TPP at the same time his administration works to undo the deal.

But Michael Every of Rabobank says that the decision could mark the start of a trend of protectionism in the USA, which will be bad for emerging markets.

Trump’s action of blocking a trade deal has left America’s Asian allies, including Japan, Australia and New Zealand, to fend for themselves or join a trade block sponsored by China.

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Trump has withdrawn the United States from the controversial TPP trade deal
 
 
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