Update | Trump signs executive order to withdraw US from Trans-Pacific Partnership
The president delivers on campaign promise as he vows to renegotiate the North American Free Trade Agreement
President Donald Trump began recasting America’s role in the global economy Monday, cancelling an agreement for a sweeping trade deal with Asia as one of his first official White House actions.
After meeting with business executives to discuss the US manufacturing industry, Trump headed to the Oval Office to sign an executive order formally ending the United States’ participation in the Trans-Pacific Partnership. The move was largely symbolic -- the deal was unlikely to make it through Congress -- but served to signal that Trump’s tough talk on trade during the campaign will carry over to his new administration.
Trump stressed he wants “fair trade,” claiming countries such as Japan “charge a lot of tax” on US products.
“If they’re going to charge tax to our countries -- if as an example, we sell a car into Japan and they do things to us that make it impossible to sell cars in Japan...It’s not fair,” he said.
Trump also singled out China, saying, “If you want to take a plant or you want to do something, you want to sell something into China and other countries, it’s very, very hard.”
“In some cases, it’s impossible,” he said. “They won’t even take your product.”