Trump Makes Good On Promise to Nix Trans-Pacific Partnership

Jan 25, 2017, 06:34
Trump Makes Good On Promise to Nix Trans-Pacific Partnership

Democratic and Republican voters alike voiced their strong opposition to an agreement they felt might threaten jobs in the United States.

Katko, R-Camillus, is among those who have spoken out against the Trans-Pacific Partnership.

"I think when Mr Trump says he's going to go out and negotiate new deals that are only good for the USA, he's not thinking of delivering better benefits for New Zealand".

A variety of union leaders were invited to participate in a White House meeting to discuss a range of issues, including trade, Reuters reported.

During a meeting in Washington, he told the chief executives of Ford, Dow Chemical, Dell Technologies, Tesla that companies were welcome to negotiate with governors to move production between USA states.

Trump, who was inaugurated on Friday, is also expected to sign an executive order to eliminate the free trade agreement between the US, Canada and Mexico, known as the North American Free Trade Agreement (NAFTA). The U.S. Congress never ratified the agreement, which promised to cut tariffs on some 18,000 products, institute new protections for workers and the environment in TPP countries, and provide an investor-state dispute system.

The new USA president doubled down on some of his campaign promises on Monday, including punitive tax hikes for US companies that ship jobs overseas and sharp reductions in corporate taxes, red tape and regulations. But even after that split, the president had always been pro-trade.

Video: Nov 2016: Trans-Pacific Partnership: What is it that Trump does not like?

But fellow Republican Sen.

"This decision will forfeit the opportunity to promote American exports, reduce trade barriers, open new markets and protect American invention and innovation", McCain said.

The call to end TPP became a staple of Trump's campaign speeches.

"If President Trump is serious about a new policy to help American workers, then I would be delighted to work with him", he added.

On Monday sources confirmed to CNN that the newly minted president plans to sign an executive order to do just that.

Steven Mnuchin, Mr. Trump's nominee for Treasury Secretary, said during his confirmation hearing that the TPP would be used as a "starting point" for the renegotiation of NAFTA.

"Here's a fact: In central NY, we've lost 30,000 manufacturing jobs since NAFTA", he said in October. "I ran a campaign somewhat based on NAFTA".

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