President Donald Trump on Monday will sign an executive order withdrawing the United States from the Trans-Pacific Partnership (TPP) trade agreement, according to CNBC and CNN.
It’s expected that withdrawing from TPP will be the first executive order Trump signs Monday morning, CNN reported, citing an unnamed senior White House official.
Trump will also sign an order to start the process of renegotiating the North America Free Trade Agreement (NAFTA), according to CNBC. Trump railed against both trade agreements during his campaign.
Trump is scheduled to sign executive orders at 11 a.m. ET Monday morning.
Let the trade wars begin. And if anyone thinks these actions are going to bring back jobs, I am selling a bridge want to talk?
Brilliant. We can have a recession before Labor Day.
Most economists believe this would strengthen China’s trade in region while reducing U.S. influence. But then people who still believe in fake economics like trickle down don’t pay attention to stuff like that.
You got it. I would guess that by next month (maybe March) the unemployment rate will start to go back up. Whatever manufacturing jobs (mostly on the West coast like WA) that are dependant on trade with the Pac Rim will be gone by then as well. Wall Street will also start to get very nervous. Yes, they want the tax cuts but they don;t want protectionism. WS will be shocked and angry. Despite the fact that he told them all along this was what he would do.
What CAN & MEX will do, I have no idea.
I think I just felt America’s power in Asia drop; it’s like being on a plane suddenly losing altitude.