World Economy

Trump Firm on Dumping TPP

Trump Firm on Dumping TPPTrump Firm on Dumping TPP

President-elect Donald Trump says the US will quit the Trans-Pacific Partnership trade deal on his first day in the White House, BBC reported.

 He made the announcement in a video message outlining what he intends to do first when he takes office in January. The TPP trade deal was signed by 12 countries which together cover 40% of the world's economy. Trump also pledged to reduce "job-killing restrictions" on coal production and stop visa abuses.

 But there was no mention of repealing Obamacare or building a wall on the southern border with Mexico, two actions he said during the campaign he would do as soon as he assumed power. Its aim was to deepen economic ties and boost growth, including by reducing tariffs.

There were also measures to enforce labor and environmental standards, copyrights, patents and other legal protections. But its opponents say it was negotiated in secret and it favored big corporations.

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