U.S. President Donald Trump has signed an executive action to withdraw from the negotiating process of the Trans-Pacific Partnership (TPP) bringing his election rhetoric on trade into action.
Trump vowed during the campaign to withdraw Washington from the Pacific trade deal, which he argued was harmful to American workers and manufacturing.
The TPP was negotiated under former president Barack Obama, but never ratified by the Congress, so withdrawing from it will not have an immediate, real effect on US economic policies, although it does signal a new and very different U.S. outlook on trade under Trump, reports the CNN.
The other executive actions signed included reinstating the Mexico City abortion rules and instituting a hiring freeze for federal agencies.
Trump on Monday also met with union leaders and blue-collar workers several hours after signing the executive action and had a separate meeting with business leaders.
The TPP was negotiated under former President Barack Obama, but never ratified by Congress, so withdrawing from it will not have an immediate, real effect on U.S. economic policies, although it does signal a new and very different US outlook on trade under Trump.
The other executive actions signed Monday included reinstating the Mexico City abortion rules and instituting a hiring freeze for federal agencies.
The executive action was in line of his promises to focus attention on radically reshaping U.S. trade policies.
As the Republican nominee, Trump railed against free trade agreements he argued were lopsided against the US and vowed to implement more protectionist trade policies as president, rallying voters to the polls with his "America First" slogan.
Trump on Monday also met with union leaders and blue-collar workers several hours after signing the executive action and had a separate meeting with business leaders.
Trump has said that he also plans to renegotiate the North American Free Trade Agreement, a free trade deal joining the U.S., Mexico and Canada.
Disclaimer: No Business Standard Journalist was involved in creation of this content
