President Trump has fulfilled his campaign promise by signing an executive order to withdraw from the Trans-Pacific Partnership (TPP).
The deal involving 12 nation was a trademark of former President Barack Obama’s Asia policy.
While dumping the deal with a stroke of a pen, Mr. Trump said: “Great thing for the American worker what we just did.”
In another executive order, he also cut the funding of some international groups that provide abortions and froze the hiring of some federal workers.
The executive order to thwart TTP is largely symbolic as the deal has not been ratified by the largely divided U.S. Congress.
Mr. Trump has criticized the deal as a “potential disaster for our country” during the presidential campaign. He argued that the accord was harmful to U.S. manufacturing.
- The trade deal, negotiated in 2015, covered 40% of world’s economy by countries including U.S., Japan, Australia, Malaysia, Canada, New Zealand, and Mexico.
- The stated aim of TTP was to boost growth and strengthen economic ties, also by reducing tariffs.
- Measures to enforce labor and environmental standards, patents, copyrights, and other legal protections were part of the deal.
- The U.S. business heavily backed the agreement, which was aimed at creating a new single market somewhat similar to the EU.
- The critics argued that the move was to box in China (which was not part of the deal), but the gambit was not-so-secret.
The Trump administration’s first day of the week started with a number of executive orders. These orders are legally binding, directed towards federal agencies, and a President bypasses the Congress by issuing these orders, although limited in scope.
Another order signed blocks federal funding of all the nongovernmental organizations that provide abortions abroad.
The so-called Mexico City policy was established for the first time by Republican President Ronald Reagan in 1984.
The policy has been historically repealed by incoming Democratic Presidents, including President Obama in 2009, and reinstated by Republican presidents.
Mr. Trump signed another executive action which puts a freeze on hiring non-military federal workers.
President Trump pledged earlier that he would lower the corporate tax from 35% to 15% or 20% and slash regulations by up to 75% after meeting business leaders at the White House.
Mr. Trump made many “Day One” promises, but inevitably, he was unable to fulfill all of them. Some of the measures he announced today fulfill the pledges he made as a candidate in a speech in Gettysburg in October. Here are some of the “Day One” promises made during the campaign at different rallies he was unable to keep, although he might turn to them in coming days and weeks.
- The beginning of U.S.-Mexico border wall.
- Branding China as a currency manipulator.
- The elimination of gun-free zones in schools and on military bases
- The termination of each “unconstitutional executive order”
- Immediate suspension of Syrian refugees from admission into the U.S.
- Asking Congress for legislation on “strong” minimum sentencing for illegal re-entry of a criminal