Trumped: 15 Ways Trump's Policies Affect the World - Page 8 of 16 - Juicy Celeb – Celebrity Gossip, Rumors & Entertainment News

Trumped: 15 Ways Trump’s Policies Affect the World


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9. Farewell to the TPP

In an update to the American people, the President-elect released a message regarding his transition process and where the administration’s many policies are taking aim. The first mentioned policy stated by the President-elect is that he is “going to issue our notification of intent to withdraw from the Trans-Pacific Partnership, a potential disaster for our country. Instead, we will negotiate fair, bilateral trade deals that bring jobs and industry that bring jobs and industry back onto American shores.” The TPP was intended to be a trade pact between 12 Pacific countries that would combine for $28.5 trillion in gross domestic product – – a modified take on what pacts such as NAFTA are already doing. It was widely considered “The world’s most ambitious free-trade deal in decades.”

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With the U.S. pulling the plug on its participation, Reuters reports that the deal now “stands almost no chance of working… opening the way for China to assume the leadership mantle on trade,” despite Japan and Australia still expressing their commitment to the TPP post-Trump’s reveal.  China will indeed take on the leadership trade role, specifically through their proposed Regional Comprehensive Economic Partnership, which specifically excludes U.S. involvement. Despite this, Douglas Bulloch of Forbes reminds everyone that America is “still the world’s biggest customer.” He writes, “The blunt truth is that the United States’ role in the Pacific, and indeed the wider world, is more than simply a provider of global public goods, security guarantees and ‘leadership.’ What is routinely forgotten is that the U.S. is also the world’s biggest domestic market, maintaining an enormous trade deficit with the rest of the world; in particular, China.”


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