Mexican Media Brands
Trump Withdraws U.S. from Trans-Pacific Partnership
As expected, President Donald Trump signed an executive action on Monday that formally withdraws the U.S. from the Trans-Pacific Partnership.
#economics
Share
As expected, President Donald Trump signed an executive action on Monday that formally withdraws the U.S. from the Trans-Pacific Partnership. The deal agreed to in 2015 but never ratified by Congress, where support evaporated last autumn.
The TPP was intended to help balance China’s economic clout. The dozen participants, which represents 40% of the world’s economy, were to be Australia, Bruei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the U.S.
U.S. big business favored the partnership, which was initially championed by the Obama administration. But opposition to the deal grew dramatically during last autumn’s presidential campaign.
Trump vowed last November to abandon the TPP, which he described as a "potential disaster" for the U.S., as soon as he took office. Rejecting the pact underscores Trump’s “America First” focus and his preference to renegotiate trade agreements one country at a time.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.