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U.S. to drop TPP trade deal at start of Trump presidency

President-elect Donald Trump has doubled down on his commitment to end plans for the Trans-Pacific Partnership (TPP) trade deal on the first days of his presidency. The agreement was championed by President Obama, who claimed it would open up trade between countries. Detractors however claimed it would send U.S. jobs overseas, massively extend copyright and make it possible for companies to sue governments for lost profits.

The TPP, like the European focused, TTIP, is something we and many others have been concerned about for some time. We saw what trade deals like this could do in countries where corporations could sue governments for blocking actions like drilling in environmentally protected areas. They also had a huge potential to inhibit accessibility to life saving drugs in developing nations.

Fortunately TTIP is all but dead, and if anything comes out of the Trump presidency, the end of TPP would be a positive one to many people too. While there will be many who will doubt he will follow through on these claims, during an election where policy appears to have had little effect on the outcome, the end of the TPP is one that Trump has repeated, which gives some hope he will keep his word.

Announced during a video address about his first 100 days in the White House, Trump also said he would help renovate the coal industry and would halt the abuse of travel visas to the United States. Other claims that he made during his campaign, such as building a wall across the Mexican border, as well as repealing the controversial Obamacare health program, were not mentioned.

If Trump sticks to his guns with the TPP, it could see the entire trade deal collapse, despite the involvement of 11 other countries. That’s good news for proponents of privacy and those who campaigned against the deal, but further degrades President Obama’s impact during his tenure as the U.S. leader.

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KitGuru Says: It seems fair to say that we’ll need to give Trump some time to see how much he sticks to his word during office. Until we see action, it’s best to remain cautiously optimistic – at least with regards to the TPP. 

Image source: Wikimedia

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