Trump Vows to Quit 12-State TPP Trade Deal

Trump Vows to Quit 12-State TPP Trade Deal

The President-elect, Donald Trump, has said he plans to pull the US out of the 12-state Trans-Pacific Partnership (TPP) that took seven years to negotiate, on 20 January 2017, his first day in office. The aim of the deal was to deepen economic ties, boost growth and enforce labour and environmental protection standards across the dozen states. Describing the deal as “a potential disaster” for the US, Trump offered his alternative in a video released on Monday evening, where he spoke of negotiating “fair, bilateral trade deals that bring jobs and industry back on to American shores.

The Japanese prime minister, Shinzo Abe, said the TPP “has no meaning” without the US, its largest participant. He stated that the absence of the US “destroys the basic balance of gains,” despite the presence of other large state signatories, including Canada and Australia. While the deal was agreed in 2015, it is yet to be ratified by the individual countries. The Australian prime minister, Malcolm Turnbull, disagrees with Mr Abe, stating “there is very strong support among the other 11 parties to the TPP to ratify it and to seek to bring it to force“.

Other executive actions Trump claimed he would take on day one included cancelling restrictions on US energy production and ordering a plan to combat cyber and other attacks. He did not, however, mention repealing Obamacare or building a wall on the southern border with Mexico, arguably two of the most significant actions promised during his campaign to become the next president of the United States.

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