US President-Elect confirms withdrawal from Trans-Pacific Partnership

US President-Elect, Donald Trump revealed his policy plan today (22 Nov) on the first one hundred days for as the incoming 45th President of United States of America.

A video on the US Presidential Transition Facebook page, showed Trump saying that his agenda will be based on ‘putting America first’.

“A list of executive action we can take on day one to restore our lost and bring back our jobs,” Trump said.

Trump in his video, states what he is going to do once he enters the White House.

Things that he will do:

  1. Withdraw from the Trans-Pacific Partnership (TPP), of what he said ‘a potential disaster for America’. America will instead negotiate fair bilateral trade deals that will bring jobs and industry back onto the country shores.
  2. Cancel job-killing restrictions on the production of American energy.
  3. Formulate a rule that for every one new rule, two old regulations must be eliminated
  4. For national security, Trump will ask the Department of Defense to develop a comprehensive plan to protect America’s vital infrastructure from cyber attacks and all other form of attacks.
  5. Direct the Department of Labour to investigate all abuses of visa programs that undercut the American worker.
  6. On Ethics Reform, impose a five-year ban on lobbying on executive officials becoming lobbyists after they leave the administration and a life-time ban for executive officials lobbying for foreign government.

“These are just a few steps to reform Washington and rebuilt our middle class, I will provide more updates as we work together to make America great again for everyone, and I mean, everyone!” he said.

Japanese Prime Minister Shinzo Abe said during a news conference in Buenos Aires on Monday that the TPP will be meaningless without US’ participation.

Meanwhile, Prime Minister Lee Hsien Loong had said on Sunday (20 Nov, or Monday morning, Singapore time), that it will be a great loss if the TPP does not come to fruition.

“It would make a lasting contribution to the stability and the prosperity of the region, so if we lose that, well, life goes on. But you have lost something precious and which would have been very worthwhile having,” Mr Lee said to Singaporean reporters at the end of the trip to attend the Asia-Pacific Economic Cooperation (APEC) Summit in Peru.

“Even if countries try for a new deal down the road, fresh negotiations would have to take place under different conditions.”

“TPP’s present form took six years of talks involving very hard work, enormous amount of effort, argy-bargy, compromise, and deals worked out,” he said.

The TPP can come into force only if it is approved by six countries that account for at least 85 per cent of the group’s economic output, that makes it crucial for both the United States and Japan – the world’s top and third-largest economies respectively – to confirm.

The other TPP members’ leaders from Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam had met on Saturday to discuss a way forward, and had agreed to continue seeking domestic approval of the trade pact.

PM Lee said, “We have not come to that bridge yet, we will cross it if and when we come to that.”

 

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