Washington (CNN) President Donald Trump has begun carrying out his campaign pledges to undo America’s trade ties — starting Monday with executive action to pull the United States out of the Trans-Pacific Partnership. “Great thing for the American worker, what we just did,” Trump told reporters Monday in the Oval Office as he signed the order. TPP vs RCEP: Key trade deals explained Here’s what you need to know about Trump’s move: What did Trump do Monday? Read More Trump formally withdrew the United States from the Trans-Pacific Partnership — a 12-nation deal that had been negotiated under former President Barack Obama. Nothing changes because of Trump’s move. Congress had not yet approved the TPP — its fate was bleak on Capitol Hill no matter what the White House did — and the deal had not yet taken effect. However, by pulling the United States out of the deal, Trump fulfilled a campaign promise. And in doing so, he ends all hopes for a deal Obama wanted as a major part of his legacy. The TPP — which has also included Canada, Mexico, Japan, Australia, New Zealand, Chile, Peru, Malaysia, Singapore, Vietnam and Brunei — would have slashed tariffs for… Read full this story
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