DONALD Trump has announced that he will take the US out of the Trans Pacific Partnership on his first day of office, but what is the controversial trade deal?
From The Express
Why is Donald Trump withdrawing from TPP?
President-elect Trump has laid out his policy plans for his first 100 days in office in a video posed to YouTube.
He called the treaty “a potential disaster for our country” and said that he would replace the deal with “fair bilateral trade deals that bring jobs and industry back onto American shores”.
Mr Trump has been a vocal critic of multi-national trade agreements such as TPP and the US-EU Transatlantic Trade and Investment Partnership (TTIP), claiming that the deals put business interests before American jobs.
What is the Trans Pacific Partnership?
The TPP is a major trade deal between 12 nations including the US which aims to boost trade among the Pacific Rim.
The US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru are all signatories.
Once ratified, it is expected to remove tariffs and other trade barriers, and unify regulations on goods and services.
IS TRUMP PRESIDENT YET?
The treaty covers everything from agriculture to carmakers and technology firms.
It includes a mechanism which would allow private companies to sue national governments should they break the terms of the TPP or pass laws that might hurt their business.
The agreement, signed by Barack Obama and other world leaders in February, is the result of seven years of negotiations.
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