Trump Takes US Out of TPP Deal: Smart Move for American Workers?
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Despite having only been in Office for a few days, President Trump has already made some huge changes to the US. Today, he withdrew the US from the Trans-Pacific Partnership, otherwise known as the TPP.
The TPP is a deal which reduces tariffs and makes importing/exporting easier for the Pacific Rim nations.
The US has said that trade deals like the TPP are not in its best interests and it would prefer to focus on bilateral trade deals instead of allowing countries that are economically smaller to have the “same stature” as the US.
Trump has described this move as being beneficial to the American workers as it should create employment in the country. In furtherance, Trump has also told a number of companies – including Dell and Ford – that they must keep production within the US otherwise tariffs will be imposed on their goods.
For employment in the US, this may prove to be a smart move, as it should prevent situations such as the TATA steel closure that lost hundreds of jobs in the UK.
Without the US, it seems that the entire TPP deal could collapse soon. The Japanese Prime Minister, Shinzo Abe, claims that without the input of the US and its huge consumer market, any sort of attempt at a trade deal would be pointless.