Trans-Pacific Partnership Scrapped

Trump signs order to withdraw US from Trans-Pacific trade deal

News

US President Donald Trump holds up an executive order. AFP PHOTO | SAUL LOEB

US President Donald Trump holds up an executive order withdrawing the US from the Trans-Pacific Partnership after signing it in the Oval Office of the White House in Washington, DC, on January 23, 2017. AFP PHOTO | SAUL LOEB

Posted  Monday, January 23   2017 at  20:27

In Summary

  • Embarking on his first full week in office, the 45th US president began rolling out his policy agenda after a tumultuous first weekend for his administration by signing a series of executive orders.
  • Among the first was a memo on withdrawing from the vast TPP trade pact, which aimed to set trade rules for the 21st century and bind US allies against growing Chinese economic clout.
  • Trump also signed two other orders, on freezing the hiring of federal workers and hitting foreign NGOs that help with abortion.

President Donald Trump moved Monday to pull the United States out of the Trans-Pacific Partnership, making good on a pledge to scrap a deal he denounced as a “job killer” and a “rape” of US interests.

Embarking on his first full week in office, the 45th US president began rolling out his policy agenda after a tumultuous first weekend for his administration by signing a series of executive orders.

Among the first was a memo on withdrawing from the vast TPP trade pact, which aimed to set trade rules for the 21st century and bind US allies against growing Chinese economic clout.

“We’ve been talking about this for a long time,” Trump said as he signed the executive order in the Oval Office.

“Great thing for the American worker what we just did.”

Promoted by Washington and signed by 12 countries in 2015, the TPP had yet to go into effect and US withdrawal is likely to sound its death knell.

Its signatories — Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Brunei — together represent 40 per cent of the world economy.

The real estate mogul’s White House bid was fuelled in part by a pledge to overturn trade deals — such as TPP and the North American Free Trade Agreement — that he says have drained US jobs and destroyed its industrial heartlands.

Trump also signed two other orders, on freezing the hiring of federal workers and hitting foreign NGOs that help with abortion.

‘America first’

The Republican leader is looking to shift attention firmly back onto his policy agenda after the first few days that put his incoming administration on the back foot.

“Busy week planned with a heavy focus on jobs and national security,” he tweeted early Monday.

Since he was sworn in on Friday, Trump’s White House has been pilloried for lying to the public about inaugural crowds and over a campaign-style speech by the president before a memorial to fallen CIA officers.

On Saturday several million Americans poured onto the streets for women-led demonstrations against Trump, the scale of which were unseen in a generation, in a potent rebuke to the president.

Trump has upbraided top aides over unfavourable media coverage on everything from crowd sizes to suggestions he has ruled out releasing his taxes. He is the first presidential candidate in recent memory not to do so.

http://www.theeastafrican.co.ke/news/Donald-Trump-withdraw-TPP-trade-deal/2558-3784634-102mauu/index.html

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