In a bold act showing his commitment to delivering promises, Donald Trump has withdrawn the United States from the Trans Pacific Partnership (TPP). The trade deal, signed by former President Barack Obama, threw America into a free trade agreement with Communist Vietnam and legitimised its state-owned companies. Trump’s executive order is now set to be given to the US Congress.
Obama signed the deal using the “fast-track” authority which allowed it to be approved by a simple majority in both houses of Congress. It not only pushed the United States to an unfair trade agreement with eleven other countries, but also served as a gesture validating the state ownership of businesses in Communist countries like Vietnam.
CNS News reports that the preamble to the TPP ‘stated that the nations that were a party to it recognized the “legitimate role” of government-owned businesses and said that a purpose of the TPP was to “promote a level playing field” between government-owned and privately-owned enterprises’.
This is just one example of Trump delivering on key election promises that allowed him to win the White House. On Monday, the President told business leaders he will be cutting regulations by 75%, another key factor to his victory.
In the Oval Office, Trump said “We’ve been talking about this for a long time”, as he was signing the order. During the campaign last year, Trump called the TPP a “rape” of America.
According to the Australian, Pauline Hanson has welcomed Trump’s decision, and hopes Australia will be next. “I was very pleased to see that the President of the United States has pulled out of it and hence I’m sure it will flow onto Australia (and) we won’t go ahead with it,” she said.
The Sydney Morning Herald reports that Australia is now trying to preserve what remains of the TPP, with Prime Minister Malcolm Turnbull set to consider China has a replacement for the US. The Prime Minister also said that Australia depends on free trade, and his proposals are based on what’s best for Australian jobs. Trade Minister Steve Ciobo said deals are still on the table to make sure Australian exports are easily traded.
In Japan, the only country to implement the agreement so far, Prime Minister Shinzo Abe said the TPP will be useless without the US. From Pauline Hanson’s perspective, that would be exactly the point.
Now all that’s left is for the order to pass down the US Congress.