Trump pulls out of TPP trade deal

US President Donald Trump has fulfilled a campaign pledge by signing an executive order to withdraw from the Trans-Pacific Partnership (TPP), BBC reports. The trade deal, a linchpin of ex-President Barack Obama's Asia policy, was signed by 12 nations. "Great thing for the American worker what we just did," said Trump as he dumped the pact with a stroke of a pen. He also cut funding for international groups that provide abortions, and froze hiring of some federal workers.
Trump's executive order on TPP is seen as mainly symbolic since the deal was never ratified by a divided US Congress. During his presidential campaign, he criticised the accord as a "potential disaster for our country", arguing it harmed US manufacturing.
The president also signed an executive action placing a hiring freeze on non-military federal workers.
Trump also pledged yesterday to "massively" cut regulations and taxes on companies, but impose "a very major border tax" if they move factories outside the US.
"All you have to do is stay," he told executives from 12 companies including Lockheed Martin, Under Armour, Whirlpool, Tesla and Johnson & Johnson.

 

Trump pulls out of TPP trade deal

US President Donald Trump has fulfilled a campaign pledge by signing an executive order to withdraw from the Trans-Pacific Partnership (TPP), BBC reports. The trade deal, a linchpin of ex-President Barack Obamas Asia policy, was signed by 12 nations. Great thing for the American worker what we just did, said Trump as he dumped the pact with a stroke of a pen. He also cut funding for international groups that provide abortions, and froze hiring of some federal workers. Trumps executive order on TPP is seen as mainly symbolic since the deal was never ratified by a divided US Congress. During his presidential campaign, he criticised the accord as a potential disaster for our country, arguing it harmed US manufacturing. The president also signed an executive action placing a hiring freeze on non-military federal workers. Trump also pledged yesterday to massively cut regulations and taxes on companies, but impose a very major border tax if they move factories outside the US. All you have to do is stay, he told executives from 12 companies including Lockheed Martin, Under Armour, Whirlpool, Tesla and Johnson Johnson.