Trump Says On First Day: U.S to Quit TPP

U.S. new president says to quit Trans-Pacific Partnership (TPP) on his first day in office.

A Message from US President-Elect Donald J. Trump

During the video press, he claimed, “on trade, I am going to issue a notification of intent to withdraw from the Trans-Pacific Partnership – a potential disaster for our country. Instead we will negotiate fair bilateral trade deals that bring jobs and industry back on to American shores”

He also stressed the necessaries to cancel job-killing restrictions.

What is the TPP?

 

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TPP Took Half Decade Tough Negotiations

The TPP trade deal which signed by 12 countries in 2015, including the  US, Japan, Malaysia, Australia, New Zealand, Canada and Mexico, together counts 40 percent the world economy. It aims to deepen economic ties and boost growth through tariffs policies, labor and environment standards, copyrights and other legal policies.

As a core part of the Obama administration’s strategic “pivot to Asia”, TPP was aiming to alongside boosting US exports, and strengthen Washington’s key relationships in the Asia-Pacific, signal US commitment to the region and promote American values.

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People Protest Against TPP On StreetGlobal Reactions

Protesters in U.S. said the deal kills local job and only favored big companies, and foreign manufacturers.

Global Reactions

Political leaders and commentators in Asia in particular have reacted strongly. Japan’s prime minister said the TPP would be “meaningless” without the involvement of the US.

China continues to push alternatives – the Regional Comprehensive Economic Partnership (RECP), which would include Japan, India and Australia, but not the US, and the Free Trade Area of the Asia Pacific (FTAAP).

Malaysia’s prime minister said it was President-elect Trump’s right “to make the policy decisions he thinks right”.

A spokesman for Canada’s trade ministry said the government would continue to work on the TPP.

“We made a commitment to consult Canadians on the TPP and we will abide by that commitment,” he told the BBC.

 

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