Trump formally pulls U.S. out of TPP with executive order

The new U.S. president made good on one of his campaign promises Monday, formally withdrawing the United States from the Trans-Pacific Partnership, a trade deal negotiated by his predecessor but never ratified.

Donald Trump signed an executive order to pull out of TPP a little before noon ET, calling the move “great news for American workers.”

The 12-nation trade deal had been a target of his wrath on the campaign trail. 

Reports Monday suggested the Trump administration would also sign an order to formally attempt to renegotiate NAFTA, but no such document was included in a series of executive orders done in front of assembled media on Monday morning.

Trump’s son-in-law Jared Kushner is expected to meet with Canadian Prime Minister Justin Trudeau and members of his cabinet on Tuesday while the ministers are on a retreat in Alberta. Trade deals are expected to be front and centre in those discussions.

More to come

Article source: http://www.cbc.ca/news/business/donald-trump-trade-nafta-1.3947989?cmp=rss