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Sunday, January 22, 2017

Trump tosses TPP into the waste basket

The Trans-Pacific Partnership of 12 nations became a TPP of 11. President Trump wadded it up and tossed it in the circular file on Friday.

From Nikkei News:
Soon after President Donald Trump was sworn in, his administration announced the U.S. withdrawal from the Trans-Pacific Partnership, a trade pact championed by former President Barack Obama and Japanese Prime Minister Shinzo Abe.
The White House on Friday also wasted no time in declaring a renegotiation of the North Atlantic Free Trade Agreement, or NAFTA. Trump is expected to take a more isolationist, protectionist stance, and the international community is concerned that the U.S. will continue to draw inward.
Trump was sworn in as the 45th president of the U.S. on Friday, repeating his campaign pledges of putting American interests first and restoring national glory to a deeply polarized public.
So who are the 11 nations that wanted a TPP with the USA?

Only Japan has ratified it.

The other 10 are Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

Don't we already have free trade agreements with everyone except Vietnam? And with Vietnam we have a Trade and Investment Framework Agreement -- and a $19.6 billion annual trade deficit. Vietnam exports 48 times what they import from the USA.

Why do we need another free trade pact with these nations?

What is in it for us?

Is the plan to bleed us dry?

Enough is enough. We give. They take. Screw them.

@@@

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8 comments:

  1. Funny, Barry promised he'd shut down Club Fed on Day One. It's still there.

    Trump said TPP would go on Day One. It's gone.

    ReplyDelete
  2. One point about TPP: all countries were to share their technical expertise. Who is the preeminent country in the world-America. So Trump saw wisely that this agreement was a lose for America. Bravo Trump

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    Replies
    1. Yep. It's not free trade. We already have that with these countries. More BS from Bushclintonobama

      Delete
  3. The Donald's next Tweet: "Just got word that the Canucks have invaded Vermont! They must be after the maple syrup! This looks like a job for ... Leftist protesters!"

    Okay, guys, now the left is out in the woods, let's repeal Obamacare.

    ReplyDelete
  4. As a reluctant Trump voter I'm liking him more every day. I can't wait to see the SCOTUS pick. I hope we hear liberal screams at about 200 decibels when the announcement is made.

    ReplyDelete
  5. TPP always seemed to be a good idea,especially since tariff reductions was a primary goal. But now I am reading where all the major trade pacts of the past, NAFTA, WTO and the US-Korea agreement have never ever lived up to the rosy results projected by government cronies.

    Recently Peterson Institute and Tufts University studies on TPP, didn't show up positive. Peterson found TPP would result in a modest increase in U.S. GDP, but not impact overall U.S. employment. Tufts economists concluded that the TPP would reduce U.S. growth rates and lead to 448,000 American jobs lost.

    ReplyDelete
  6. But---but---TPP was the Gold Standard of trade deals!!! HilLIARy told us so!!!
    More fool's gold sold to us by bushclintonobama, as Don so nicely puts it. And fool's gold is nothing but dross.
    -Fred

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  7. If it was so wonderful, why was it secret? Why was it under lock and key with limited secure room access? To my knowledge the full agreement had never been shown, so what are these institutes and universities evaluating?
    Anytime a lib/progressive does not want you to read their golden words, you know they are up to no good.
    Legislstors that vote for bills they have not read should he fired immediately.

    ReplyDelete