Trump announces his intention to withdraw the United States from TPP

The elected US president, Donald Trump, has announced its intention to withdraw from the agreement of Trans Pacific Partnership (TPP), which he described as a “potential disaster” for their national interests.

withdraw US from TPP

Trump, who during the election campaign had already expressed opposition to this treaty, has said that when he takes the White House next January, will seek to negotiate “bilateral investment treaty fair” that generate jobs for their country.

The TPP, an initiative that has been promoted by President Barack Obama, has not yet been ratified by the US Congress, which has met strong opposition from lawmakers from the Republican majority.

The elected US president has realized this decision in a two and a half minutes video and that was announced hours earlier and that incorporates some of the measures to be issued when it assumes the presidency, on 20 January.

“I’m going to issue a notification of intent to withdraw United States from TPP, a potential disaster for our country,” said the future ruler.

In exchange, he added, promote bilateral treaties allowing to generate jobs that have been lost by past trade agreements.

The TPP, which was agreed on 4th February, after six years of negotiations, it is signed by 12 nations, including the United States, Australia, Canada, Chile, Mexico and Peru.

It is considered a trade agreement of the Pacific Rim, among other objectives, seeks to counter the commercial expansion of China, one of the excluded nations of this initiative.

The TPP provides for a period of two years for ratification by the parliaments of member countries, but for its entry into force it is necessary that the signatories representing at least 85% of the bloc’s GDP.

The US withdrawal of this initiative represents a serious setback for the entry into force of the treaty.

In his message, Trump said he has asked the transition team to set a series of executive actions that will be developed “from day one” of his mandate and seek to “restore law and restore jobs”.

Among them also mentioned his intention to eliminate restrictions on energy development, including those affecting gas fields in layers of shale (whose extraction requires the technique of hydraulic fracturing or “fracking”).

In addition, he said that by each one new regulation that should be approved “will have to be removed two”, as part of his promise to reduce regulations in different fields of the economy, including the financial industry.

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