chewy Posted January 23, 2017 Posted January 23, 2017 Quote U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday, distancing America from its Asian allies as China's influence in the region rises. Fulfilling a campaign pledge to end American involvement in the 2015 pact, Trump signed an executive order in the Oval Office pulling the United States from the 12-nation TPP. "Great thing for the American worker," Trump said as he signed the order on his third full day in office. The Republican says the trade deal would have damaged U.S. manufacturing. The accord, backed heavily by U.S. business, was negotiated by former President Barack Obama's administration but never approved by Congress. It had been the main economic pillar of the Obama administration's "pivot" to the Asia-Pacific region to counter China. Trump has sparked worries in Japan and elsewhere in the Asia-Pacific with his opposition to the TPP and his campaign demands for U.S. allies to pay more for their security. That was quick. Obviously TTP was waiting Congress approval, but was likely to go through. Is NAFTA next? that would be huge, not looking good for Mexico
sandeep Posted January 23, 2017 Posted January 23, 2017 This was always on the cards. But some of his other stuff is going to really wreck a lot of things.
Tibarn Posted January 23, 2017 Posted January 23, 2017 He promised a 45% tariff on China, if they keep manipulating currency. That would be a severe blow to them if he backs it up. It would hurt China even if they stop manipulating currency. That would be a big chance for India, and even more so Vietnam, to really jump-start their respective manufacturing sectors. TPP was mostly hype, I think. I think I remember reading that it was mostly about America and Japan. There is no reason that they can't re-negotiate a FTA between themselves. Cancelling NAFTA will put more strain on US borders. If Mexico's economy declines, more people are going to try to come to the US. randomGuy 1
punjabi_khota Posted January 25, 2017 Posted January 25, 2017 (edited) On 1/24/2017 at 2:03 AM, chewy said: That was quick. Obviously TTP was waiting Congress approval, but was likely to go through. No!Also, hillary pledged to kill it too Edited January 25, 2017 by punjabi_khota
Tibarn Posted January 25, 2017 Posted January 25, 2017 1 hour ago, punjabi_khota said: No!Also, hillary pledged to kill it too After she saw how unpopular it was... She earlier said "it sets the gold standard in trade agreements". She was SoS when it was negotiated, so she was probably heavily involved with its development and promulgation.
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