Trump to scrap 'disaster' Trans Pacific Partnership deal on his first day in the White House
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- Category: Uncategorised
- Created: Tuesday, 22 November 2016 21:42
- Written by Ben Brennan and agencies - Yahoo7 and Agencies
US president-elect Donald Trump has declared he will scrap the controversial Trans Pacific Partnership trade deal on his first day in office.
US President-elect Donald Trump explains his policies for his first 100 days in office, along with his day one executive orders.
In a video message laying out his plans, Mr Trump said he would immediately direct the US government to walk away from the deal, which had been pushed for several years by current President Barack Obama, and leaders from around the region.
What is the Trans-Pacific Partnership
Multilateral trade deal covering 40 per cent of world’s economy across 12 nations.
Australia plans to sign on to the deal, despite growing grassroots opposition.
"On trade, I am going to issue our notification of intent to withdraw from the Trans-Pacific Partnership, a potential disaster for our country," he said.
"Instead, we will negotiate fair, bilateral trade deals that bring jobs and industry back onto American shores."
US president-elect Donald Trump used YouTube to reaffirm his election promise to walk away from the Trans Pacific Partnership trade deal.
Mr Trump said his agenda in the first 100 days in office would focus on the simple principle of "putting America first".
Australia was expected to be a key part of the controversial trade deal, which has angered many amid claims it would give multinational corporations too much power to influence domestic governments.
Its supporters have touted it as a coup for free trade.
Mr Trump also says he'll issue a rule cutting government regulations, direct the Labor Department to investigate abuses of visa programs, and cancel some restrictions on energy production, including shale oil and gas and coal.
Withdrawing from the TPP deal was one of Mr Trump's election promises. It also became a key promise from his Democratic rival Hillary Clinton, despite her taking a key role in its negotiation and implementation in her role as Secretary of State.
Source : https://au.news.yahoo.com/world/a/33287074/trump-to-scrap-trans-pacific-partnership-deal-on-his-first-day-in-office/#page1
