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President Donald Trump withdraws from the Trans-Pacific Partnership Deal

President Donald Trump withdraws from the Trans-Pacific Partnership Deal

President Trump formally withdrew the U.S. from the Trans-Pacific Partnership, otherwise known as the “Biggest Trade Deal in history,” when he signed an executive order on Monday, January 23, 2017.  Trump called the order a “great thing for the American worker.” [source]

The Trans-Pacific Partnership, although signed by 12 other countries in 2015 and fully backed by former President Obama was never approved by United States Congress.  Others, such as President Trump have “characterized the TPP as a secretive deal that favored big business and other countries at the expense of jobs and national sovereignty.” [source]

“In addition, Trump is expected to sign another executive order, this one to renegotiate the North American Free Trade Agreement, ratified decades ago with the consent of the Senate. Because the Constitution does not discuss the termination of treaties, there is some question as to how that process should work.” [Source]  He will be meeting with the Prime Minister of Canada and President of Mexico later this week to discuss possible changes to the NAFTA agreement already in place.

Scarbrough continues to monitor progress and changes made to any international trade deals that encompass the United States of America. We would love to hear your opinions and maybe even publish them anonymously in our next newsletter.  If you have any questions or comments, feel free to email me directly at ktaylor@scarbrough-intl.com.

To read more, visit:

Aljazeera

NY Times

Forbes

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