Trump Signs Executive Order on US Withdrawal From TPP Trade Deal

© AFP 2023 / Nicholas Kamm Delegates show their opposition to the Trans-Pacific Parternership Agreement (TPP) during Day 1 of the Democratic National Convention at the Wells Fargo Center in Philadelphia, Pennsylvania, July 25, 2016.
Delegates show their opposition to the Trans-Pacific Parternership Agreement (TPP) during Day 1 of the Democratic National Convention at the Wells Fargo Center in Philadelphia, Pennsylvania, July 25, 2016. - Sputnik International
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US President Donald Trump signed an executive order on the country's withdrawal from the Trans-Pacific Partnership (TPP) trade deal.

"We got to sign three memorandums today. Right now, to withdraw the United States from the Trans-Pacific Partnership," White House Chief of Staff Reince Priebus announced on Monday presenting Trump with the order to be signed.

A demonstrator holds a fan with No! TPP in a protest against the Trans Pacific Partnership (TPP) trade deal at a sit-in demonstration in front of the parliament building in Tokyo - Sputnik International
Trump to Send China ‘Huge Gift’ by Withdrawing From TPP
On Friday, the White House released a trade plan saying that the United States would withdraw from the Trans-Pacific Partnership (TPP) free trade agreement.

"Everyone knows what that means, we have been talking about this for a long time," Trump noted while signing the order. "Great thing for the American worker, what we just did."

A demonstrator holds a fan with No! TPP in a protest against the Trans Pacific Partnership (TPP) trade deal at a sit-in demonstration in front of the parliament building in Tokyo - Sputnik International
Australian Government Puzzled by US Pullout From TPP Trade Deal, Mulls 'Plan B'
During his presidential campaign, Trump often criticized the TPP agreement and called it a "terrible deal," which is harmful for US workers. He has vowed to withdraw the United States from the deal within the first 100 days of his presidency and impose tariffs on products from China.

The TPP free trade deal, covering 40 percent of the global economy, was signed last February by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States.

China has been promoting a rival free trade pact in the Asia-Pacific region, the so-called Free Trade Area of the Asia-Pacific pact (FTAAP).

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