President Trump has signed an executive order that formally ends U.S. participation in the Trans-Pacific Partnership, the 12-nation trade agreement negotiated by former President Obama but never ratified by the U.S. Congress.
Reuters quoted Trump as saying "Great thing for the American worker," as he signed the order.
Trump had campaigned against the 2015 trade deal during the presidential race, arguing that it would be harmful for U.S. manufacturing and its workers.
The Washington Post reported that there was support for the action on both sides of the political aisle, quoting Vermont Senator and former presidential candidate Bernie Sanders as saying “I am glad the Trans-Pacific Partnership is dead and gone.”
Others observers worried that the formal U.S. exit from the agreement leaves an opening for China to move in and negotiate trade deals in the region more favorable to its interests--and less favorable to the U.S.:
"Chinese President Xi Jinping test drove a new message last week at the World Economic Forum. China, he said, would defend globalization against populist forces that want to end free trade," reported Charles Riley at CNN Money; with this executive order, "Donald Trump handed Xi the car keys and threw in a free tank of gas."
Author
Michael Anderson, former senior editor at Cutting Tool Engineering magazine, holds a master's degree in written communication from Eastern Michigan University. He has been professionally writing about manufacturing technology since 1998, including more than 10 years at the Society of Manufacturing Engineers.
