The Trans-Pacific Partnership (TPP) was Obama’s crowning legacy achievement.
The 12-nation international trade deal was to draw Asian nations into globalism.
But Donald Trump kept his promise and wiped it off the books for good.
During the campaign, Trump promised to withdraw from the TPP.
On his first full day in office, he made good on his word.
One of his first three executive orders announced America’s withdrawal from the deal.
“President Donald Trump on Monday will start to unravel the behemoth trade deal he inherited from his predecessor, as he signed an executive action to withdraw from the negotiating process of the Trans-Pacific Partnership.
That executive action sends signals to Democrats and leaders in foreign capitals around the world that Trump’s rhetoric on trade during the campaign is turning into action. Trump vowed during the campaign to withdraw the US from the Pacific trade deal, commonly known as TPP, which he argued was harmful to American workers and manufacturing.
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 US economic policies, although it does signal a new and very different US outlook on trade under Trump.”
Trump argued that these multi-national trade deals benefited the global community but ravaged the American economy by gutting the middle class and shipping jobs overseas.
Withdrawing from the agreement was a key component of Trump’s “America First” agenda.
The New York Times reported on Trump’s remarks explaining why he believes the TPP was bad for the American worker:
“Mr. Trump’s decision to scrap the Trans-Pacific Partnership, or T.P.P., reversed a free-trade strategy adopted by presidents of both parties dating back to the Cold War, and aligned him more with the political left. When he told a meeting of union leaders at the White House on Monday that he had just terminated the pact, they broke into applause.
“We’re going to stop the ridiculous trade deals that have taken everybody out of our country and taken companies out of our country, and it’s going to be reversed,” Mr. Trump told them, saying that from now on, the United States would sign trade deals only with individual allies. “I think you’re going to have a lot of companies come back to our country.”
Establishment Republicans were outraged.
Failed 2008 Republican Presidential candidate John McCain attacked the move in a written statement calling it a “mistake”.
The Hill reports:
“Sen. John McCain (R-Ariz.) blasted President Trump on Monday, warning that his decision to withdraw from the Trans-Pacific Partnership (TPP) will spark a wave of negative consequences.
“President Trump’s decision to formally withdraw from the Trans-Pacific Partnership (TPP) is a serious mistake that will have lasting consequences for America’s economy and our strategic position in the Asia-Pacific region,” McCain said in a statement.”
McCain – like Obama – is a globalist who favors open borders, mass migration, and international trade deals.
The TPP would have established a “free trade zone” for the United States and eleven other Asian nations.
The agreement – which is not true free trade, but rather government managed trade – would have reduced tariffs on imported goods.
Critics saw this as government hand-picking winners and losers, with those likely to be left behind consisting of American workers and companies.
The Obama administration signed the agreement, but never submitted it to Congress for ratification.
The rise of Trump in the GOP – and Bernie Sanders stronger than expected showing in the Democrat primary – made voting for the deal untenable in both parties.
This fact allowed Trump to sign an executive order withdrawing the United States from a trade deal that was supposed to cement Obama’s globalist legacy.