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National & World Ag News Headlines |
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President Trump Signs Order Withdrawing U.S. From TTP
USAgNet - 01/24/2017
President Donald Trump signed an Executive Order on Monday to abandon from the 12-nation Trans-Pacific Partnership brokered by his predecessor and declared an end to the era of multinational trade agreements that defined global economics for decades.
With the stroke of a pen on his first full weekday in office, the preisident signaled that he plans to follow through on promises to take a more aggressive stance against foreign competitors as part of his "America First" approach. In doing so, he demonstrated that
he would not follow old rules, effectively discarding longstanding Republican orthodoxy that expanding global trade was good for the world and America -- and that the United States should help write the rules of international commerce.
In addition to abandoning the trade deal, he ordered a freeze on federal government hiring, except for the military and other security agencies.
Trump's decision to scrap the Trans-Pacific Partnership reversed a free-trade strategy adopted by presidents of both parties dating back to the Cold War, and aligned him more with the political left. When he told a meeting of union leaders at the White House
on Monday that he had just terminated the pact, they broke into applause.
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