Tuesday, Nov 29, 2022
International Finance
Economy

Trump plans to quit Pacific deal

But silent on Obamacare and building a wall along the border of US and Mexico IFM Correspondent November 23, 2016: President-elect Donald Trump says US will quit Trans-Pacific Partnership (TPP) trade deal on his first day in office. The TPP trade deal was signed by 12 countries which together cover 40% of the world’s economy. The aim was to deepen economic ties and boost growth,...

But silent on Obamacare and building a wall along the border of US and Mexico

IFM Correspondent

November 23, 2016: President-elect Donald Trump says US will quit Trans-Pacific Partnership (TPP) trade deal on his first day in office.

The TPP trade deal was signed by 12 countries which together cover 40% of the world’s economy. The aim was to deepen economic ties and boost growth, including by reducing tariffs.

In a short video, Trump outlined his plans when he takes office in January. First on his agenda is to remove the US from the TPP. He called the deal a ‘potential disaster’ for the country.

Announcing the plan to pull out of the TPP, he said that the US would “negotiate fair, bilateral trade deals that bring jobs and industry back onto American shores”.

Trump went to emphasise that his core principle is to make America great again. He plans to issue a rule cutting government regulations, cancel some restrictions on energy production and direct the Labour Department to investigate abuse of visa programs.

However, he remained silent on Obamacare as well as on the promise he made to build a wall along the border of US and Mexico.

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