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US to quit TPP trade deal, says Trump

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Update: 2016-11-21 22:39:19
US to quit TPP trade deal, says Trump

President-elect Donald Trump says the US will quit the Trans-Pacific Partnership trade deal on his first day in the White House.

He made the announcement in a video message outlining what he intends to do first when he takes office in January.

The TPP trade deal was signed by 12 countries which together cover 40 percent of the world’s economy, reports BBC.

The Republican also pledged to reduce “job-killing restrictions” on coal production and stop visa abuses.

But there was no mention of repealing Obamacare or building a wall on the southern border with Mexico, two actions he said during the campaign he would do as soon as he assumed power.

His surprise election win two weeks ago has sparked protests across the US.

The TPP was agreed in 2015 by countries including Japan, Malaysia, Australia, New Zealand, Canada and Mexico, but is not yet ratified.

Its aim was to deepen economic ties and boost growth but its opponents say it was negotiated in secret and it favors big corporations.

Asia-Pacific leaders meeting in Peru over the weekend said they will continue to pursue free trade deals despite Trump’s opposition.

But on Monday, Japanese Prime Minister Shinzo Abe said the TPP trade deal would be meaningless without the involvement of the US.

In the video message, Trump said his governing agenda would be based on “putting America first”.

The president-elect has spent the last week starting to put together his new team.

BDST: 0935 HRS, NOV 22, 2016
AP/SR

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