The Asian Nikkei Review and Strait Times are reporting that the U.S. has announced on Friday its withdrawal from the Trans Pacific Partnership (TPP). It was confirmed today as President Trump signed the executive order.
Teamster President James Hoffa just jumped on the Trump train.
— Candace (@roycan79) January 23, 2017
The trade pact was championed by former President Barack Obama and Japanese Prime Minister Shinzo Abe but President Trump puts “America First” and insists on fair trade deals.
The White House on Friday also wasted no time in declaring a renegotiation of the North Atlantic Free Trade Agreement, or NAFTA.
The international community is afraid he will become protectionist. Trump has said he wants trade, but “fair trade deals” that also benefit the United States.
As one of his campaign promises, President Trump promised to put Americans back to work and pull out of treaties if countries refuse to open them up to negotiations.
TPP is a globalist trade deal with the global rulers writing the rules. It’s about global leadership with thousands of pages of rules already drawn up.
Congress has passed three of the worst trade deals in history — 1993’s NAFTA, China’s 2001 entry into the World Trade Organization, and the 2012 South Korean agreement. Each time, we were assured by the White House and elite globalist think tanks these deals would create thousands of jobs, increase wages, and strengthen our manufacturing base. Instead the U.S. hemorrhaged jobs, experienced depressed wages and the U.S. trade deficit ballooned.
The U.S. uses the CGE/Peterson model which assume a 4% to 5% unemployment rate; it assumes a constant income share between capital and labor; and it assumes our trade deficit will not change from its current level.
It’s a faulty model.
On the White House website, currently under construction, it says:
With a lifetime of negotiating experience, the President understands how critical it is to put American workers and businesses first when it comes to trade. With tough and fair agreements, international trade can be used to grow our economy, return millions of jobs to America’s shores, and revitalize our nation’s suffering communities.
This strategy starts by withdrawing from the Trans-Pacific Partnership and making certain that any new trade deals are in the interests of American workers. President Trump is committed to renegotiating NAFTA. If our partners refuse a renegotiation that gives American workers a fair deal, then the President will give notice of the United States’ intent to withdraw from NAFTA.
It appears he has already made good on his promise.