Multiple Reports are confirming that President Trump will be signing an executive order today to withdraw from the Trans-Pacific Partnership trade deal. Instead, it’s reported he’ll be focusing on negotiating individual trade deals with the countries in the partnership.
Withdrawing from the TPP was a promise he made on the campaign trail, calling it a “potential disaster” for the United States, and it was one of the first orders of business President Trump looked to complete upon assuming office.Wilbur Ross, the Commerce Secretary nominee; Robert Lighthizer, U.S. trade representative; and Peter Navarro, head of the White House council will be heading the new trade negotiations.
Detractors argue that withdrawing from the TPP would bring uncertainty to global relations, but President Trump prefers bilateral trade deals. The TPP was also a deal that President Obama hoped to get through Congress before leaving office.
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In addition, President Trump is also expected to sign another executive order to renegotiate NAFTA, the North American Free Trade Agreement.
“We are going to start renegotiating NAFTA, on immigration and on security at the border,” President Trump said at the swearing-in ceremony for top White House advisors.
Sean Spicer, in his statement delivered on Saturday, said that President Trump was set to speak to both Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto to discuss trade and immigration matters.
