Clean Break: Trump Begins to Dismantle Barack Obama’s Legacy.
President Donald Trump began his efforts to dismantle Obama legacy by scrapping Trans Pacific Trade deal (TTP) and reinstated ban on providing federal funding…
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Donald Trump has focused his first days at the Oval Office to dismantle Barack Obama’s legacy. He started by scrapping the TPP, a free trade deal with 11 countries in the Pacific rim, including Mexico, Peru and Chile.
Trump’s decision not to join the Trans-Pacific Partnership (TPP) came as little surprise. During his election campaign, he said free trade deals like this bring job losses in the U.S industrial heartland. Obama had argued that this deal would provide an effective counterweight to China in the region.
“We’ve been talking about this for a long time. It’s a great thing for the American worker”, Trump said.
Trump’s election opponent, the Democrat Hillary Clinton, had also spoken out against the TPP.
The TPP was never ratified by the Republican-controlled Congress, but several Asian leaders had invested substantial political capital in it.
In the case of Mexico, the damage is especially significant, reports El País. With a heavily export-dependent economy - especially from the US, the destination of eight out of every 10 dollars of Mexican products sold abroad - the TPP provided a unique opportunity to open new markets across the Pacific Ocean. The need to seek business partners beyond the US is now more pressing than ever: uncertainty over the renegotiation of NAFTA - for which the Mexican and US presidents are due to meet on Jan. 31 in Washington - is one of the main obsessions of Trump's campaign, forces the government of Enrique Peña Nieto to opt for alternative buyers of its products. And there the opportunities of the TPP were immense: Mexican exports to the signatories of the pact excluding the US and Canada were only 9,000 million dollars in 2015, compared to almost 320,000 million sold to its two North American partners.
The new president also signed executive orders to ban funding for international groups that provide abortions, and placing a hiring freeze on non-military federal workers.
As reported in El País.