Trump Pulls the US Out of TPP Trade Deal
Trump also reinstated the ban on funding for international abortion groups
Photo by Michael Vadon under CC
Donald Trump signed three executive orders on Monday, one of which is an order withdrawing the U.S from the Trans Pacific Partnership.
According to Fox News, the other orders were placing a “hiring freeze on some federal workers and reinstating a ban on funding for international groups that perform abortions.”
The Trans Pacific Partnership is a pact signed by twelve countries- Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru-that border the Pacific Ocean.
According to the BBC, “The pact aimed to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth. Members had also hoped to foster a closer relationship on economic policies and regulation.”
The pact was designed to ultimately create a single market, similar to that of the EU provided all the 12 nations ratified it.
The deal was one of Obama’s biggest achievements during his tenure, but Trump had made it distinctly clear during his campaign that it would have to go calling it a “horrible deal”.
Critics from the left also agreed with Trump saying that the trade deal took away jobs from hard working Americans. The withdrawal comes as a big blow to the 11 nations involved in the TPP.
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