United States Leaves the Trans-Pacific Partnership

United States Leaves the Trans-Pacific Partnership

The future of the Trans-Pacific Partnership seems uncertain as the United States have just announced that they will not be part of the deal. During the presidential campaign, Donald Trump had spoken against TPP, calling it a terrible deal. The President-elect has recently out a video message in which he outlines his priorities for the beginning of his term. He announced several measures that he will be taking as soon as he becomes the president in January. One of the things that he intends to do on his very first day after the inauguration is to cancel the trade deal.

Donald Trump Decides to Quit TPP

Soon after Donald Trump won the US election on November 8, many were wondering what chances of surviving the TPP still has. As a candidate, Trump criticized the Trans-Pacific Partnership as well as other trade deals. Taking a protectionist stand, Donald Trump said that those trade deals hurt the American economy and have cost the United States jobs. The President-elect has promised to bring back American jobs and breathe new life into the economy. Taking that into consideration, he is not going to enter a new free trade agreement. If there was still room for speculation regarding the TPP, Donald Trump put an end to that with his video message. He clearly stated that the United States is going to quit the Trans-Pacific Partnership on the first day of his presidency.

Twelve countries have signed the Trans-Pacific Partnership trade deal so far. The economies of those countries together make up 40 percent of the world’s economy. However, it looks like the United States are not going to be part of the free trade agreement.

The TPP is a massive trade agreement that the 12 countries agreed to in 2015. Among those countries are Japan, Australia, Canada, New Zealand, Malaysia and Mexico. The individual countries did not yet ratify the trade deal.

Opponents of the Trans-Pacific Partnership say that the negotiations for the trade deal were not open and transparent. They also say that the trade deal works in favor of big corporations and undercuts average workers.

Donald Trump to Focus on Jobs

Donald Trump took on more issues than just the TPP in his video message. He also talked about jobs, one of the main talking points of his presidential campaign. One of the ways in which he plans to create more jobs is by lifting restrictions in the energy industry. He mentioned clean coal as one sector that would see job creation in the future.

The President-elect took on the issue of immigration as well. While he did not say anything about the border wall with Mexico, another main point of his presidential campaign, he talked about the visa programs of the United States. He promised to put an end to incidents where the rules of the visa programs are abused and add more security to American jobs that way.

Among his priorities as president, Donald Trump didn’t mention anything about the Affordable Care Act. Although during the campaign he denounced Obamacare, in recent interviews he seemed to have a more moderate view about the federal health law.

Image source: here