Trump to announce US withdrawal from TPP
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[WASHINGTON] US President Donald Trump will sign a decree Monday that effectively ends US participation in a sweeping trans-Pacific free trade agreement negotiated under former president Barack Obama, CNN reported.
The action would be the new president's first move to make good on a campaign vow to scrap the Trans-Pacific Partnership, or TPP, which he denounced as a "job killer" and a "rape" of US interests.
The agreement, seen as a counter to China's rising economic influence, was promoted by Washington and aimed to set trade rules for the 21st century. Although signed in 2015, it has not yet gone into effect.
It was signed by 12 countries - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Brunei - that together represent 40 percent of the world economy.
Japanese Prime Minister Shinzo Abe, a big supporter of the accord, has said that TPP without the United States would not make sense.
AFP
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
