The US President Donald trump has signed a decree on the country’s withdrawal from the TRANS-Pacific economic partnership (TPP). It is reported Associated Press Monday, January 23.
This step is a formality, since the agreement was never ratified by the U.S. Senate. As indicated earlier, it is unlikely it would be approved, as this could lead to job losses in the United States.
On November 21 last year, the trump called the TPP a “potential disaster” for the United States. “Instead, we will negotiate a fair bilateral trade deals that will bring jobs and manufacturing back to the U.S.,” he said.
In mid-November, the administration of former head of state Barack Obama decided not to discuss the TPP in Congress by passing this issue to the team trump.
TTP statutes provide that the Treaty will enter into force only if it will involve US.
The agreement on free trade zone in the Asia-Pacific region, was prepared under the leadership of Washington for several years, was signed by 12 countries: Australia, Brunei, Vietnam, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, USA, Chile and Japan.
Earlier on January 23, Reuters reported that trump also intends to sign a decree on the revision of the agreement on free trade in North America (NAFTA) concluded between the USA, Canada and Mexico.