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Trump's 1st Executive Order Pulls US Out Of TPP
Source:
tax-news.com
- Jan 24, 2017
President Donald Trump has followed through on his previous policy statements by signing an executive order to pull the United States out of the Trans-Pacific Partnership.
In the past, the anti-globalization President had said that TPP was one of the worst deals he had ever seen, and earlier this year he described the treaty as "the greatest danger yet" to the US economy. There has also been opposition to TPP in both the Democrat and Republican parties, with many also believing its terms would actually harm, rather than grow, the US economy.
TPP was signed in February last year by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. It would therefore have encompassed a huge marketplace, with 800m people and about 40 percent of global gross domestic product.
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Category: General Business
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